The Real Deal New York

Posts Tagged ‘aristone capital funding’

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    Shaya Boymelgreen is facing a lawsuit over 20 Pine.

    Developer Shaya Boymelgreen is facing a lawsuit from Aristone Capital
    Funding after allegedly defaulting on a $3.2 million loan for
    Boymelgreen’s former condominium project at 20 Pine Street in the
    Financial District. Aristone, in a suit filed June 4 in New York State Supreme Court,
    alleges that Brooklyn-based Boymelgreen failed to repay the loan,
    missed a number of construction deadlines and failed to confirm whether
    he repaid the building’s mortgage loan to Bank of America by October
    2008. The suit names Boymelgreen Family LLC as the borrower and Boymelgreen as the personal guarantor of the loan. Records from the city Department of Finance show that in 2005, Bank of
    America lent $140 million to Boymelgreen and his investment partner Lev
    Leviev for the building. [more]

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  • alternate textBaruch Singer (Source: Jennifer Weisbord, Splashnewsonline.com) and the Greenpoint Pencil Factory

    A lender to controversial landlord Baruch Singer is seeking the repayment of a multi-million dollar development loan on a delayed high-profile condominium project in Brooklyn, court papers said.
     
    Singer took out a $6.68 million subordinate loan from Greenwich Village-based real estate financial services firm Aristone Capital Funding for the development of a Greenpoint, Brooklyn project, a lawsuit filed May 8 in New York State Supreme Court shows.  
     
    But the 93-unit Greenpoint Pencil Factory condo was not finished by its January 19 completion deadline this year, and so the lender called in its loan.
     
    “Borrower is in default of the loan agreement for failing to complete the construction of the [Pencil Factory] by the completion date,” a March lette [more]

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  • alternate textBaruch Singer (Source: Jennifer Weisbord, Splashnewsonline.com) and the Greenpoint Pencil Factory

    A lender to controversial landlord Baruch Singer is seeking the
    repayment of a multi-million dollar development loan on a delayed high-profile
    condominium project in Brooklyn, court papers said. Singer took out a $6.68 million subordinate loan from Greenwich
    Village-based real estate financial services firm Aristone Capital
    Funding for the development of a Greenpoint, Brooklyn project, a
    lawsuit filed May 8 in New York State Supreme Court shows. But the 93-unit Greenpoint Pencil Factory condo was not finished by its
    January 19 completion deadline this year, and so the lender called in
    its loan. “Borrower is in default of the loan agreement for failing to complete
    the construction of the [Pencil Factory] by the completion date,” a
    March letter Aristone Capital sent to Singer said, court records
    indicate. [more]

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