El-Gamal’s 45 Park lender wants out – Robert Khodadadian

, El-Gamal’s 45 Park lender wants out – Robert Khodadadian, Robert Khodadadian

Sharif El-Gamal’s Tribeca money pit has become a burial ground for its lender. Malayan Banking Berhad, which has been trying for nearly three years to foreclose on El-Gamal’s stalled 45 Park Place condo project, is ready to move on after a judge ruled against its efforts to take control of the property. The lender, which does business as Maybank, is looking to sell its $108 million non-performing loan on the property, according to marketing materials

 Sharif El-Gamal’s Tribeca money pit has become a burial ground for its lender. Malayan Banking Berhad, which has been trying for nearly three years to foreclose on El-Gamal’s stalled 45 Park Place condo project, is ready to move on after a judge ruled against its efforts to take control of the property. The lender, which does business as Maybank, is looking to sell its $108 million non-performing loan on the property, according to marketing materials
The post El-Gamal’s 45 Park lender wants out appeared first on New York.  Commercial Real Estate, Home Page, 45 park place, foreclosures, sharif el gamal, Soho Properties The Real Deal New York 

Lead by real estate veteran Robert Khodadadian, has been instrumental in many multi-million dollar commercial developments, including a $12 million contract for the White House Hotel, a 99-year ground lease of a four-story commercial site in Harlem, and a retail co-op on Prince St. for $50 million.

Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.

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See also  Latest Trends in Rapidly Changing New York City Multifamily Market on November 14, 2022 at 3:58 pm Commercial ObserverRobert Khodadadian

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