The Mansion on Peachtree Hotel has been foreclosed on by an affiliate of iStar Financial for $66.1 million. The Mansion on Peachtree is a 42-story condo/hotel project and was originally estimated to cost $165 million. Reportedly, it was subject to over $187.4 million in loans prior to the foreclosure action. ... More
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Macklowe’s Loss is Zell’s Gain
Monday, February 1st, 2010Macklowe Properties is selling three residential towers to Equity Residential, the Chicago-based apartment investor controlled by Sam Zell. Properties included in this $475 million deal are the 38-story RiverTower, 32-story 777 Sixth Avenue, and the 26-story Longacre House apartment tower in Midtown Manhattan. According to a company report, the portfolio ... More
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