NEW YORK CITY-The New York attorney general's office is reviewing the agreement signed between the principal lender Anglo Irish Bank and the developer group headed by Africa Israel USA for high-end residential complex Apthorp's condominium conversion plan.
Under the deal, the lender granted approval to the developers to use sales profits of up to $130 million for the renovation and operation of Apthorp. The developer group has received $323 million in mortgage loan from Anglo Irish. For the full story, go to Wall Street Journal.
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