From left: RFR Holdings’ Aby Rosen, Blackstone Group’s Stephen Schwarzman, architect Richard Meier and a Core Club suite

In 2005, RFR Holdings head Aby Rosen gave Jennie Saunders the first six floors of the condominium he was building at 60 East 55th Street to house her club for the rich and famous.

As a recent profile in Departures magazine highlighted, the club, known as Core Club, has become a haven for New York elites from all industries, including Blackstone Group President Stephen Schwarzman, architect Richard Meier, football legend Dan Marino and Hollywood talent agent Ari Emanuel. Many of those same people were among the 150 people who invested $100,000 to get Core Club off the ground.
[more]

Four New
York City addresses made their debuts on Trepp’s list of distressed
properties in June, and one made a re-entry, according to data compiled
for The Real Deal (see chart below). New to the 48-item New
York City list is Argus Realty’s 32,049-square-foot office property at
246 Fifth Avenue, which is 60 days delinquent with a $14.5 million loan
balance, and two Bronx multi-family portfolios in foreclosure, with
loan balances of $36.5 million and $35 million. Another newcomer is 405
East 77th Street, a 15-unit apartment building that’s 60 days
delinquent with a $3 million loan balance. [more]

Riverton Apartments is at the top of the list of New York City’s commercial properties that are at least 60 days delinquent, by size of loan balance, according to data from commercial loan tracking firm Trepp updated through today. (See full list of delinquent properties — and zoom in on it — here, plus see a slide show of some of the properties above.) Laurence Gluck bought Riverton, the 12, 13-story buildings that lie between 135th and 138th streets and Fifth Avenue and Harlem River Drive, for $135 million in 2005, then refinanced the property with a $225 million mortgage. The foreclosure auction is set for March 11. Other large delinquent properties include Hampshire Hotels & Resorts’ Dream Hotel at 210 West 55th Street, with a loan balance of $100 million, and Time Hotel at 224 West 49th Street, also owned by an affiliate of Hampshire Hotels & Resorts, with a balance of $55 million. Also included on the list are the Meyberry House at 220 East 63rd Street with a $90 million loan balance and and the Core Club retail condominium at 60 East 55th Street, with an $18 million balance. The Real Deal looked at commercial properties that were 90 or more days delinquent in its 2010 Data Book. TRD [more]