Forest City Misses Metrotech Mortgage Payment
Crain’s reported on Friday that Forest City Ratner had missed a payment on its $52 million mortgage at 10 Metrotech, which, oddly enough, isn’t in the Metrotech Center but a few blocks away at 625 Fulton Street; the building counts both the IRS and Human Resources Administration as tenants. The irony of the developer embarking…
Crain’s reported on Friday that Forest City Ratner had missed a payment on its $52 million mortgage at 10 Metrotech, which, oddly enough, isn’t in the Metrotech Center but a few blocks away at 625 Fulton Street; the building counts both the IRS and Human Resources Administration as tenants. The irony of the developer embarking on a $5 billion project at a time when it can’t make a payment of what can’t amount to more than a few hundred grand was not lost on the folks at Develop Don’t Destroy.
Two Big Developers Hit Financing Difficulties [Crain’s]
D-O-N-E-D-E-A-L!!!
Bruce Almighty.
All is well.
***Bid half off peak comps***
“Human Resources Administration” you don’t mean the “Social Security Administration,” do you?
Once the public financing for the arena arrives they’ll have no problems making this mortgage – we’ll be paying it for Ratner.
I find it extremely difficult to take seriously anything put forward by someone affiliated with the “Affordabl Housing Institute.” That said, missing a mortgage payment is not good.