X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-The 232 unsold units at the troubled Rector Square condominium conversion in Battery Park City found a buyer at an auction Wednesday, but that buyer was also the seller. Anglo Irish Bank, the senior lender on the 304-unit project, put in the only bid, $82.7 million, for the unsold units as well as its parking garage and commercial space. Bloomberg reports that the lender had sought to recoup much of the $135 million it is owed.

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.