Have I got a skyscraper for you

Courtesy MSNBC.com: Business  Sat, 05/23/2009 - 10:01

417 Fifth Ave., an office building that Moinian and Goldman Sachs' Whitehall group bought two years ago, is one address in "serious jeopardy" of foreclosure, says Dan Fasulo, a managing director at Real Capital Analytics.<br /><br />Loan defaults in the worst commercial real estate market in decades have created tens of billions worth of distressed properties across the U.S. and cut-rate auctions of skyscrapers.



 

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