An investment firm, Minuit Partners put $8.5 million on the table to pay the debt on the distressed Upper East Side development site on the corner First Avenue and 89th Street. The investment firm announce its plan to foreclose on the site. The Wall Street Journal reported that Minuit would hold onto the property on [...]
MB Financial Bank made the necessary steps to foreclose on No. 22 Renwick, a new boutique condominium in Soho, the complaint filed in New York Supreme Court states. The bank assumed the $19 million mortgage last year on the 12-story building at 22 Renwick Street. The filing states that the developers of the project, Orange [...]
Sandusky’s industrial history names the crayon factory as one of its major pieces. History couldn’t protect this old factory to avoid foreclosure: the real estate is posted for foreclosure auction on February 15. The former American Crayon complex, which also is known as the Dixon Ticonderoga plant, will go up for Erie County Sheriff’s sale [...]
Lenders aren’t the only ones taking heat for their role, lawyers are getting their share too, especially during the foreclosure process. Judges are now accusing foreclosure lawyers for processing sloppy or fabricated paperwork in foreclosure actions when representing banks, The New York Times reported. Judge Arthur M. Schack of New York State Supreme Court in [...]
The Barton Hill hotel in Lewiston is delinquent on its mortgage, and unpaid taxes, but it seems like there is some hope to avoid foreclosure. “We will use every possible remedy to maintain this property,” said Diane Finkbeiner, who owns the 72-room hotel with her husband, Edward. “If we have to, we’ll stop the foreclosure [...]
The development partnership Durst Fetner Residential took title to the mostly vacant development parcel at 855 Sixth Avenue where once Yitzchak Tessler, Meyer Chetrit and Jacob Chetrit – real estate investors – dreamed to build a 355,000 square-foot tower. But the economic downturn made that dream vanish along with their money. Durst Fetner – partnership [...]
Niagara Hotel’s potential was interesting for several high-profile investors who showed up at the foreclosure sales held in the City Hall. However, none of them bid to claim the building so it went back to the lone bidder, its lender the State Bank of Texas, which agreed to pay $1 million for the property. The [...]
New York luxury houses as defined as the top 10% sales, out performed the overall New York property market in the fourth quarter, 2010. According to Miller Samuel, the median price of the New York luxury property segment was $4.35 million, which means a 15% climb compared with the same period a year prior. Average [...]
Delinquent mortgage holder New York homeowners have now a reason to fear: HSBC has restarted filing lawsuits against them in the state. HSBC owns about 10% of New York’s mortgages, is the first sizable bank to restart litigating foreclosure cases in the state since the end of October. According to their spokesman "We believe our [...]
