Roosevelt Island hotel lender looks to claw back $77M 
Roosevelt Island’s lone hotel is getting kicked out of class. A lender is looking to claw back $76.5 million after Hilton’s Graduate Hotel ceased operations and had its ground lease terminated by Cornell University. An entity of commercial mortgage lender ACRES Capital is suing a real estate fund tied to the Graduate chain and AJ Capital Partners, saying it owes the full value of the loan after a recourse guaranty was triggered, according to a request for summary judgment filed in New York state supreme court on Wednesday. The action could spell a financial challenge for AJ Capital, which launched […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Forecast 2027: Housing Transactions Hold Steady Despite High
Rates
Mortgage Rates Have Jumped And Builders Are Moving To
Adapt
Reality Check: Mamdani’s “transfer” program gets
started
Manhattan office market closing in on pre-Covid
reality
Carnegie House co-op wins new shot in ground lease
fight
NY AG bans Brooklyn developer for six years over misused
buyer funds
Mamdani wants to “recognize” tenant unions. What would that
look like?
NY Dirt: A lead poisoning case, a legal web, and new
ownership in Brooklyn
America’s Top & Best-In-State Residential Architects
2026: Methodology
10 Real Estate Open House Ideas to Make Your Home Stand
Out
