RFR LOSES 285 MADISON TO KOREAN LENDER
https://media.zenfs.com/en/the_real_deal_435/29f295a877b1b1f5171c2d3f0564561b
✍️ Daol Asset Management, a Korean investment firm, has acquired 285 Madison Avenue from Aby Rosen's RFR after a lender's default and foreclosure.
👉 Daol Asset Management acquired 285 Madison Avenue from Aby Rosen's RFR 👉 The deal was valued at $300 million, down from its 2017 value of $600 million 👉 RFR had taken out a $219 million CMBS loan, but was unable to pay it off 👉 Daol made a UCC foreclosure filing, which allowed it to take possession of the property in just over two months
-- #AbyRosen #MichaelFuchs #285MadisonAvenue #Midtown #GrandCentral #business
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