Veracity fights foreclosure as Nolita hotel auction gets pushed again 
A landlord battered by the pandemic-era collapse in tourism is scrambling to hang on to a boutique Nolita hotel as a long-running foreclosure inches forward. Veracity Equities, the lower Manhattan-focused firm run by Edmond Li, is facing a $35.3 million judgment tied to a defaulted mortgage at the Nolitan, a 55-key hotel at 153 Elizabeth Street. The nine-story building on the corner of Kenmare Street had been slated to go up for auction this week, Crain’s reported. Instead, the auction has been pushed — again. Li and lender Silverpeak Real Estate Finance agreed Monday to delay the sale until Feb. […]
This article originally appeared on The Real Deal. Click here to read the full story.
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