Report: Macklowe's Drake Site On The Block
Summary: The New York Observer published this article on May 16, 2008, and the EveryBlock system found it to be geographically relevant to East 56th Street and Park Avenue in New York. Below, you can read the article excerpt that mentions the given location and follow the link to read the full article.
News article details
While it's unclear if the MGM group will beat competing offers, sources familiar with the situation said the partnership would take over the existing $580 million in defaulted debt and interest, making the payments for the 12 months to 18 months until a construction loan is obtained. Macklowe was asking for an additional $200 million for the site, located at East 56th Street and Park Avenue. Read the full article…
| Location | East 56th Street and Park Avenue |
|---|---|
| Publication date | May 16, 2008 |
| Source | The New York Observer |
Added to EveryBlock on May 16, 2008.