NEW YORK CITY-A troubled loan amounting $17.7 million is up for sale. The loan was backed by the retail condominium that accommodates Chinatown Brasserie.
In May 2007, an entity managed by Michael Fuchs and Aby Rosen secured the $17.7-million loan from Bank of America for the NoHo property. In October, BACM 2007-4 Lafayette Retail, LLC filed a suit against the borrower for not paying interest. Recently, Mission Capital Advisors has started marketing the loan for $16.6 million.For the full story, go to Wall Street Journal.
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