NEW YORK CITY-Peter Cohen's realty investment firm, RCG Longview has purchased the first-mortgage debt on the office tower at 1414 Sixth Ave. for $65 million from Bank of America Corp. RCG is already a junior lender to the property, which owns $24 million in mezzanine debt.
The 18-story building is owned by Norman Sturner's Murray Hill Properties, which had purchased the property in 2007 for $120.5 million. RCG now wants Sturner to pay the loan or let go of the ownership. For the full story, go to Wall Street Journal.
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