X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Creditors seeking to foreclose on Joseph Moinian’s 12-story office building at 72 Madison Ave. for missing out $22 million mortgage payments have filed a lawsuit against him in federal court. Mr. Moinian had taken a $22 million mortgage in 2007.

Due to the economic downturn, rental income fell and vacancy rates increased. According to documents filed in the court, Mr. Moinian was late in paying multiple loans. For the full story, go to Wall Street Journal.


GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.