- Category
- Announcements
- Date
- Aug. 10, 2009
- Title
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Kramer Levin Client Fortress Investment Group Acquires Sheffield57 Condominium
Kramer Levin client Fortress Investment Group acquired the Sheffield57 condominium project for $20 million at a Thursday auction, according to published reports on August 6. The hedge fund started foreclosure proceedings against the former owners earlier this summer after it bought roughly $100 million of their debt held by various lenders. Fortress was the only bidder at the auction, according to The Wall Street Journal. The 597-unit apartment building on West 57th Street had been in the process of being renovated as condominiums and was one of the largest such conversions in New York City history.
The Kramer Levin team is composed of Jay A. Neveloff, Neil R. Tucker, Jonathan H. Canter, Ruben Ravago and Adam B. Gasthalter and will continue to represent Fortress in all real estate and condominium aspects of this transaction as well as all real estate matters going forward.
Related People
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Jay A. Neveloff
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- Partner
- Chair, Real Estate
- New York
- vcard
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Jonathan H. Canter
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- Partner
- New York
- vcard
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