Monday, September 18, 2006

Pioneering Condo Conversion Loan Challenged

Just learned that Commercial Mortgage Alert, a real estate industry publication, wrote about the Manhattan House condominium conversion controversy in its July 28, 2006 issue.

"Tenants of a big Manhattan apartment complex are taking action in an attempt to derail the property's conversion to condos, claiming their rights were violated by a pioneering securitization of the conversion loan."

Read the full article here.

Formal request to investigate Manhattan House lenders and sponsors

On August 17th, David Rozenholc requested a formal investigation by the New York State Department of Law into the conduct of Manhattan House's new owners and their lenders.

Read the entire letter here.