11/23/08

Updated On 08/20/08 at 10:45AM

100 Eleventh Ave. needs to refinance



100 Eleventh Avenue


Work may have to stop on the new condo 100 Eleventh Avenue next month if its developers cannot refinance its construction loan. People familiar with the project say lender iStar Financial is forcing the developer, Cape Advisors, to refinance a $110 million first-mortgage construction loan with higher rates. The project is about $50 million over budget and a year behind schedule.

More at: [WSJ]


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Anonymous

look out below

Comment #1 Posted By: Anonymous 08/20/08

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