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Bank of America files foreclosure complaint against Newark's talle


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#1 block921

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Posted 02 July 2010 - 09:48 AM

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Bank of America files foreclosure complaint against Newark's tallest skyscraper
NEWARK — The address 744 Broad St. has been a beacon of Newark’s resurgence since that autumn day a decade ago when a switch was thrown to bathe the city’s tallest skyscraper in light after a historic $55 million makeover.

http://www.nj.com/ne...s_foreclos.html

Edited by block921, 02 July 2010 - 09:54 AM.

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#2 newarkdev01

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Posted 02 July 2010 - 11:23 AM

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Bank of America files foreclosure complaint against Newark's tallest skyscraper
NEWARK — The address 744 Broad St. has been a beacon of Newark’s resurgence since that autumn day a decade ago when a switch was thrown to bathe the city’s tallest skyscraper in light after a historic $55 million makeover.

http://www.nj.com/ne...s_foreclos.html


Rather important to read the article on this one, 744 is only in technical default because their ballon came due and BofA was probably trying to ram the terms downt he throat of Cogswell. In the end Cogswell is making payments but struggling to refiance due to much harsher terms being proposed, probably includes cross collaterazation of other assets.
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