NEW YORK CITY-DDG Partners has paid $14.8 million for a distressed site in TriBeCa. The five-story former industrial building is located at 12-14 Warren St. between Broadway and Church Street.
Renta Corp., a Spanish developer, was the previous owner of the property. The company defaulted on its loan last year and the building was taken over by Banco Bilbao, the lender. DDG has not yet finalized plans for the site, however, it is buying air rights to construct a 15-story condo. For the full story, go to Crain's New York Business .
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