Fortress buys debt on troubled 125 Greenwich
A SoftBank-owned investment firm has purchased the defaulted mortgage on the troubled luxury condo tower 125 Greenwich Street. Fortress...
125 Greenwich Street
125 Greenwich Street is a luxury high-rise in Manhattan’s Financial District. It is two blocks south of the World Trade Center, and was originally envisioned at Lower Manhattan’s response to the luxury high-rises along Midtown’s Billionaire’s Row. The building was designed by architect Rafael Viñoly.
125 Greenwich Street Q&A
Who built 125 Greenwich Street?
125 Greenwich’s site, then called 22 Thames Street, was purchased and the old building demolished by the Witkoff Group and Fisher Brothers. In 2014 it was purchased by Michael Shvo, who partnered with Bizzi & Partners, Douglas Elliman, and an array of lenders. Shvo yielded a significant portion of his shares following a tax evasion case. in Intended to top out in August 2018, the building saw delays due to internal legal battles and difficulties with financing.
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Check out our Top Stories below for TRD's most up-to-date coverage of 125 Greenwich.
125 Greenwich Street Top Stories
July 29, 2019—United Overseas Bank sold the loan on the condo project 125 Greenwich instead of moving forward with a foreclosure.
July 2, 2019—United Overseas Bank, a Singapore-based lender, says that it is owed $187 million it advanced to the developers of 125 Greenwich.
The Latest
Florida developer takes over defaulted debt on 125 Greenwich
A senior lender who moved to foreclose on 125 Greenwich, the under-construction residential tower in the Financial District, has...
Senior lender files to foreclose on 125 Greenwich
UPDATED 2:15 p.m., July 2: A senior lender at 125 Greenwich Street, the troubled residential condominium supertall in the...
Nick Mastroianni’s EB-5 firm signals intent to foreclose on 125 Greenwich
Few buildings in New York City have had a more complicated and troubled construction history as 125 Greenwich. Now...
Weekend Edition
PHOTOS: 125 Greenwich’s yacht-inspired interior design
UPDATE Jan. 2, 3:30p.m.: Yacht design is no longer just reserved for the ultra-wealthy who cruise the seas. Thanks...
Issue
125 Greenwich: Against the odds
In May 2014, a super-skinny, supertall tower was rising above the ground at 432 Park Avenue. The Rafael Viñoly-designed building — deemed an eyesore by some and a masterpiece by others — ultimately topped...
The Real Deal’s November issue is now available to our subscribers
The Real Deal’s October issue is live, and digital subscribers to TRD are getting the first look at what’s...
125 Greenwich supertall closes on $473M debt package
After marathon negotiations that began more than two years ago, the developers of the supertall condominium at 125 Greenwich...
Meet Michael Shvo’s Turkish business partner, Serdar Bilgili
During a 2007 lecture to members of Hilton Hotels and Resorts’ advisory board, Michael Shvo, then a New York...
Issue
Architecture review: 125 Greenwich is original, but not radical
Rising two blocks south of the World Trade Center site, Rafael Viñoly’s latest building, 125 Greenwich Street, was supposed...