From left: Rubin Schron and Robert Verrone
Robert “Large Loan” Verrone’s Iron Hound Management, a leading mortgage broker, has secured $406 million in loans for three different projects — 2 West 46th Street, 369 Lexington Avenue and Bush Terminal, at 241 37th Street, in Brooklyn.
Iron Hound structured the payoff of a $106 million defaulted loan and the placement of new debt, through Starwood Capital, for 2 West 46th Street and 369 Lexington Avenue on behalf of Joe Stavrach and Faraj Srour, who is also known as Freddy Srour. Iron Hound also restructured a $300 million loan with LNR Property for the 6.1-million-square-foot industrial complex Bush Terminal in Greenwood Heights for Rubin Schron, who famously bid $2 billion on the Empire State Building in June. [more]