NEW YORK CITY-DDG Partners has paid $14.8 million for adistressed site in TriBeCa. The five-story former industrialbuilding is located at 12-14 Warren St. between Broadway and ChurchStreet.
Renta Corp., a Spanish developer, was the previous owner of theproperty. The company defaulted on its loan last year and thebuilding was taken over by Banco Bilbao, the lender. DDG has notyet finalized plans for the site, however, it is buying air rightsto construct a 15-story condo. For the full story, go toCrain's New York Business .
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