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Anglo Irish Bank

222 East 41st Street, Suite 24
New York, NY 10017
(212) 503-3000
Website

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.

  • Event Sales
  • Address 40 Broad Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 17,786
  • Price $ 6,230,000
  • Price per foot $ 350.28
notes
The fifth-floor commercial condo sold for $6.23 million.
  • 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
notes
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
  • Building Name Beekman Tower Hotel (222 East 39th Street, Eastgate Tower Hotel)
  • Address 3 Mitchell Place
  • Neighborhood Midtown East
  • Borough Manhattan
  • Price $ 151,000,000
  • Price per foot $ 420,000.00
  • Publication Date 12/01/2006
  • Event Date 10/22/2006
  • Party 1 Denihan Ownership Company
  • Party 1 Brokerage Sonnenblick-Goldman
  • Party 2 Peninsula Real Estate Fund I
notes
The 26-story, 172-room Beekman Tower Hotel and the 25-story, 187-room Eastgate Tower Hotel sold for $151 million, or $420,000 per room, to an investment fund led by Anglo Irish Bank. The new owners plan $40 million of renovations for the two hotels over the next 18 to 24 months.

02/01/2014
Notable as the recovery picks up steam are the absence of a handful of formerly active European lenders. Foreign lenders no longer in the market include Anglo Irish Bank and Germany’s Hypo Real Estate Holdings which, like Lehman Brothers, another big lender in the past, collapsed during the financial crisis...