From left: Richard Bassuk of the Bassuk Organization, Stephen Rosenberg of Greystone

Mortgage lender Greystone and the Bassuk Organization, a provider of real estate investment banking services, are launching a joint venture to offer financing products for commercial real estate clients across the U.S., the companies announced today.

Greystone, headquartered in New York City with 17 offices nationwide, manages roughly $15 billion in assets and specializes in multifamily and commercial mortgage loans. The Bassuk Organization, meanwhile, operates as a real estate finance intermediary and advisory firm, with clients drawn from developers and investors in the tri-state area. [more]

George Comfort & Sons, the firm that made the largest office investment purchase this year when it bought World Wide Plaza for $590 million, is 30 days delinquent on a $160 million loan on a Bryant Park office building, commercial loan tracking firm Trepp reported.
The securitized loan on 119 West 40th Street, a 340,219-square-foot building, was listed as 30 days late “because the terms of the loan are currently being renegotiated,” a source familiar with the situation said in an e-mail, but would not elaborate…. [more]