The Ackman-Ziff Real Estate Group, LLC.Simon Ziff, president of The Ackman-Ziff Real Estate Group, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , announced that the firm closed a $9.4 million construction loan for the renovation of a five-story cast iron building in the heart of SoHo. The 33,000 square-foot loft building, with three rental tenants at grade, will have eight new luxury loft condominium apartments on the upper floors. The loan was placed with a commercial bank located in the Midwest. The Ackman-Ziff Real Estate Group, LLC also arranged an $80 million construction loan and a $30 million mezzanine construction loan for Ian Sehrager Hotels, LLC, an entity owned by NorthStar Capital Investment Corp. and Ian Schrager Ian Schrager is a hotelier and real-estate developer. Schrager began his career as a nightclub owner. In 1977 he partnered with Steve Rubell, his fraternity brother from Syracuse University, in launching the New York City discothèque Studio 54. . Proceeds of the loan were used to renovate the existing 26-story, 463,000 square-foot property into a hotel and to pay off a $26.5 million acquisition loan arranged by Ackman-Ziff earlier this year. The Henry Hudson Hotel The Hudson was built in 1928 by the daughter of JP Morgan as the American Women’s Association clubhouse and residence for young women in New York. During World War II the building housed Dutch soldiers. Most recently, the space served as the headquarters for Channel Thirteen. is a through-block building with frontage on both West 57th West 57th can refer to:
Ackman-Ziff secured CORUS Bank, N.A., a Chicago-based bank, as the lead lender and assisted in securing two of the four participants for the $80 million construction loan and secured an institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. to provide the $30 million mezzanine loan. |
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