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Anglo Irish Bank
Anglo Irish Bank
Anglo Irish Bank was a financial institution until its wind down and nationalization by the Irish government between 2009 and 2011. In its role as a financial institution, the Dublin-based Anglo Irish was a major lender on various New York City projects. These included the Apthorp condo conversion on the Upper West Side; the Rector Square condo conversion in Battery Park City; and the Mark, the Alex and the Flatotel hotels. All total, Anglo Irishs worldwide loan portfolio was $9.65 billion in 2011. The bank, however, exposed itself to extreme risk during the financial crisis that started in 2008, by lending hundreds of millions of dollars to a handful of wealthy clients under suspicious circumstances, including the doctoring of documents tied to the loans. The ensuing financial trouble not only bankrupted Anglo Irish, but seriously damaged the overall Irish economy. It also led to lawsuits between Anglo Irish and its New York clients. Former Anglo Irish chairman Sean FitzPatrick was found not guilty of criminal wrongdoing in April 2014, though other top executives, including the chief financial officer, were convicted.
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  • Event Financing
  • Building Name Apthorp
  • Address 2207 Broadway
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 393,000,000
  • Publication Date 05/01/2007
  • Event Date 03/22/2007
  • Party 1 Mann Realty Associates
  • Party 2 Anglo Irish Bank, Apollo Real Estate Finance
Anglo Irish Bank provided $393 million in first mortgage financing and Apollo Real Estate Advisors provided $135 million of mezzanine financing for the acquisition and renovation of the 346,910-square-foot landmark building. 12-story, 163-unit apartment building. Includes 390 West End Avenue.
  • Event Sales
  • Address 40 Broad Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 17,786
  • Price $ 6,230,000
The fifth-floor commercial condo sold for $6.23 million.
Manhattan, 10280
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