The Real Deal New York

Posts Tagged ‘rubicon’

  • alternate text
    Images from inside the listing at 123 and 125 East 10th Street

    The largest residential property available in the East Village has just hit the market, according to Jason Haber, CEO of Rubicon Property, which is marketing the listing The 8,400-square-foot townhouse has an asking price of $14.3 million. The listing is the largest and priciest single-family home currently on the market in the neighborhood, data from Streeteasy.com shows. The second largest is a 3,780-square-foot co-op for $5.4 million, according to
    Streeteasy.com.

    The listing, which is comprised of two addresses — 123 East 10th Street and 125 East 10th Street — is being marketed as a set. The nearly 160-year-old home, located between Second and Third avenues, includes 18 fireplaces, original moldings and a balcony. [more]

    Comments

  • Joseph Moinian and Dwell95

    Developer Joe Moinian filed a lawsuit on Monday to block the scheduled auction of Dwell95, his luxury rental building at 95 Wall Street, however a last minute bankruptcy filing by the mezzanine lender has postponed the proceeding. Monian’s Moinian Group, one of the city’s biggest real estate development companies, filed suit in New York State Supreme Court against Rubicon Finance America, which held a $42 million mezzanine loan on the 507-unit property in the Financial District. Moinian had a $227 million construction loan on the building from Credit Suisse-unit Column Financial, but the value of the property fell below the loan balance due to the 2008 economic downturn, which put the mezzanine loan into default, according to the complaint. Moinian alleges he reached an agreement with Rubicon and Credit Suisse to buy the $42 million mezzanine loan for $1 million, but he says on Dec. 10 that Rubicon agreed to sell $1.4 billion in loans, including the Dwell95 loan , to a joint venture firm that included FBE Limited and Lane Capital Management. Right after the sale, Moinian alleges that FBE and Lane Capital scheduled a Dec. 30 auction to foreclose on 95 Wall Street and basically deprive him of the chance to buy back the defaulted mezzanine loan. [more]

    Comments