NEW YORK-The Apthorp is being converted from rental apartments into condominiums. In May, the New York attorney general's office approved the plan and in July, the debt on the property was restructured by Apthorp's developers headed by Africa Israel USA and Anglo Irish Bank, the lender.
Out of the 163 units in the building, only 20 have been sold while buyers have signed contracts for 16 units, but not finalized the deals yet. For the full story, go to Wall Street Journal.
GlobeSt.com News Hub is your link to relevant real estate and business stories from other local, regional and national publications.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
