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Real Estate Rumors: Ceruzzi, Alvarez & Marsal, Astor

Law360, Los Angeles (August 2, 2017, 2:42 PM EDT) -- A joint venture of Ceruzzi Properties and SMI USA has landed a $300 million construction loan from Madison Realty Capital for a New York luxury condo project, The Real Deal reported on Wednesday, citing sources with knowledge of the matter. The loan is for 138 E. 50th St., where the venture is planning to build a 72-story luxury condo tower. The project is slated to have 124 condos and roughly 7,500 square feet of retail space, Real Deal said.

Real estate investment firm Alvarez & Marsal...
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