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Old April 25th, 2019, 12:43 PM   #1261
Eric Offereins
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This tower looks so gorgeous. Well done.
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Old April 25th, 2019, 03:12 PM   #1262
theprodigyskylined
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Maybe if they put an Eric Offereins approved sticker on the ad.....they will sell more apartments?

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Old April 26th, 2019, 04:11 PM   #1263
The seventh shape
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That exposed concrete along the sides doesn't look so pretty.
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Old April 26th, 2019, 05:31 PM   #1264
streetscapeer
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Old May 7th, 2019, 10:26 AM   #1265
Pohtija
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May 6
golden Manhattan in blue hour by Michael Min, on Flickr
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Old May 7th, 2019, 03:03 PM   #1266
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Quote:
Originally Posted by The seventh shape View Post
That exposed concrete along the sides doesn't look so pretty.
if you don't like it now, wait until it stains in a few years time with rain and streaks of sooth. it should be even more "attractive" then but in the company of that ugly fortress--1WTC, it fits right in. Downtown is gone artistically after the trashing of WTC area following the 9/11 event. there is no business there to warrant the expenditure, nor does the city have any "arts and elegance" board to stop these travesties from being built. zonin and construction codes do not include appearance nor the surface material, as long as they are safe and won't fall down on the passersby below.

Last edited by tallmark; May 7th, 2019 at 03:12 PM.
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Old May 7th, 2019, 03:17 PM   #1267
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Quote:
Originally Posted by Pohtija View Post
April 11
New York City by David Youhas, on Flickr
Isn't 1WTC the ugliest thing in lower Manhattan. A repulsive fortress with that giant "garage door" in front, and the solid concrete face for the first 20 floors? never mind what we Gothomites call the "bagel and toothpick" at the top. oh, don't forget the two open tombs for the front yard.....
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Old June 29th, 2019, 06:41 PM   #1270
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Old July 12th, 2019, 04:46 PM   #1271
Hudson11
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FiDi Supertall Condo at 125 Greenwich Street Is Headed for a UCC Auction

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The troubled debt on the 125 Greenwich Street construction project has been scheduled for a Uniform Commercial Code (UCC) foreclosure auction in mid-August, Commercial Observer has learned.

The mezzanine lender—United States Immigration Fund through a special purpose entity created to hold the mezzanine debt—has taken steps to initiate the foreclosure.

United Overseas Bank, the construction lender for the 88-story, 1,400-foot tower in Lower Manhattan, claimed in a court filing that the developers, Davide Bizzi of Bizzi & Partners and Howard Lorber of New Valley, were past due on $187 million in payments, as The Real Deal first reported. Now, the residential and retail tower faces both a mortgage foreclosure as well as a UCC action.

The UCC foreclosure sale is scheduled for August 15, as per offering documents shown to CO. UCC foreclosure actions allow aggrieved lenders to proceed on a faster timeline than standard foreclosure actions—weeks instead of years. The processes differ in that the UCC route technically attacks the borrower’s business interest in the asset, not the property itself.

[...]

In addition to the United Overseas Bank loan, the developers are liable for interest on that debt, as well as nearly $200 million in junior debt from a variety of sources including financing from the EB-5 visa program.
Silverstein in Negotiations to Step In at 125 Greenwich Street: Sources

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The ownership partnership at 125 Greenwich Street is in the midst of negotiating a few potential resolutions for the beleaguered residential condominium building with Silverstein Capital Partners (SCP), Commercial Observer has learned.

A source close to the deal told CO that in the first scenario, the landlord lender has offered to inject capital into the asset to try to resume construction and get the condo project completed.

[...]

Another option is that SCP will look to wipe the slate clean by entirely recapitalizing the asset. Sources said that a $530 million recap is in the works as another possible resolution, and that SCP is compiling a lending syndicate to resolve and refinance the defaulted senior and subordinated debt, with a plan to take a mezzanine position in the final deal. A source said there will likely be an additional mezzanine lender.

[...]

Lastly, SCP could end up executing both potential resolutions: injecting capital as well as working out a recap.
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Old July 12th, 2019, 07:11 PM   #1272
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"...the 88-story, 1,400-foot tower in Lower Manhattan..."
Are we talking about the same building????
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Old July 12th, 2019, 07:17 PM   #1273
Hudson11
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Yeah, the author probably found the old height figure and decided to go with that without researching any further. Bad journalism is everywhere these days.
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Old July 12th, 2019, 10:08 PM   #1274
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as long as they get their clicks they don't care if the details are 100% accurate
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Old July 12th, 2019, 11:08 PM   #1275
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This afternoon

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