Holder Of Building's $53M Loan Can't Block Sale, Judge Says

Law360, New York (June 29, 2012, 12:39 PM EDT) -- A New York state judge said Friday that he won't stand in the way of the sale of a $53 million mortgage loan tied to a 12-story New York office building despite a failed mediation between the lender and borrower.

Judge Bernard J. Fried said during a hearing it didn't matter that the lender, U.S. Bank NA as the trustee for some mortgage-backed securities, had negotiated a private sale of the loan to an entity called 625 Broadway Venture LLC even as it was involved in...
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