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Developer Must Pay NYC $4.4M in Back Taxes for Running Illegal Hotel
Affiliates of Los Angeles developer CIM Group must pay $4.4 million into a special New York City fund after an investigation by the State Attorney General’s office found it had been running an illegal extended-stay hotel in Manhattan while receiving affordable housing tax breaks.
Northeast 27 February 2015 18:12 -
Thorofare Capital-Arranged Loan Leads to Sale of Final Condo Units at The Martin
Thorofare Capital, an alternative investment platform, recently announced that it had provided a $4 million short-term loan to finance the acquisition of a condo unit portfolio at The Martin. The sponsor will use the financing to acquire the final units under the ownership of the tower’s developer, and then focus on selling the condos to foreign investors. KCD Martin is buying the units from New York-based iStar Financial.
Las Vegas 21 August 2014 20:02
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