While the Upper East Side’s massive Manhattan House is slowly being converted from rental to condo, questions remain about the project’s controversial financing structure, which involves securitization bonds. Fitch Ratings released a statement yesterday citing concerns about the project’s delay, noting there have been no sales or contracts signed for any of Manhattan House’s units since the loan for the project was remitted last month. The property’s owners contend that the project is not delayed. more By Vanessa Londono and Gabby Warshawer
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Questions surface about Manhattan House financing
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