Robert “Large Loan” Verrone’s Iron Hound Management, a leading mortgage broker, has secured $406 million in loans for three different projects — 2 West 46th Street, 369 Lexington Avenue and Bush Terminal, at 241 37th Street, in Brooklyn. Iron Hound structured the payoff of a $106 million defaulted loan and the placement of new debt, through Starwood Capital, for 2 West 46th Street and 369 Lexington Avenue on behalf of Joe Stavrach and Faraj Srour, who is also known as Freddy
Real estate investor Iron Hound Management Co. LLC has completed more than $400 million in loan modifications and refinancing on three New York properties for sponsors including moguls Joe Stavrach and Ruby Schron, the company announced Wednesday.
Iron Hound only recently expanded its reach in the brokerage world to include loan debt and equity placement, and took a big dive with the deals for the New York properties, which include 2 W. 46th St. & 369 Lexington Ave.
Wachtel Missry represented Joseph Stavrach and Faraj Srour in the refinancing of 369 Lexington Avenue, New York, New York and 2 West 46th Street, New York, New York. The financing involved both a mortgage loan and a mezzanine loan on each property, in the amount of approximately $103 million dollars. The matter was handled by Morris Missry, Mitch Fenton and Vanessa Barmack of the firm's Real Estate Department.
Iron Hound Management Company has completed over $400 million in loan modifications and refinancing on 2 West 46th Street and 369 Lexington Avenue as well as the Brooklyn-basedBush Terminal at 241 37th Street, Iron Hound Principal Robert Verrone said yesterday. The real estate investment company structured the payoff of a $106 million defaulted securitized loan and the placement of new debt with Starwood Capital on the 17-story, 150,000-square-foot tower at 2 West 46th and th