NEW YORK CITY-Joseph Moinian, a real estate developer, continues to face legal pressures over 1775 Broadway with the building's lenders and partners since defaulting on the building's $250 million mortgage at the beginning of this year.
By GlobeSt News Hub|December 06, 2010 at 01:01 AM
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NEW YORK CITY-Joseph Moinian, a real estate developer, continues to face legal pressures over 1775 Broadway with the building’s lenders and partners since defaulting on the building’s $250 million mortgage at the beginning of this year.
The building was then purchased by Related Cos. which sought foreclosure on the property with plans to demolish and construct a larger building in its place. Moinian, in an effort to stop the foreclosure, presented a $258.6 million bank check as repayment for the mortgage. For the full story, go to Crain’s New York Business.
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