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New York City-based Square Mile Capital Management provided the $200 million in financing to joint venture partners Somerset Development Group and Adarsan Holdings for the redeveloped former Bell Labs scientific research center.
The multifamily market in New York City has been on a downward slope since the announcement and enactment of the Housing Stability and Tenant Protection Act of 2019 this past June, and it looks like it won't let up.
Marvin Starr, whose legal acumen, speaking prowess and charisma were admired by his peers, students and colleagues, pioneered the widespread use of delayed tax-deferred exchanges.