Less than a year after launching foreclosure proceedings at its Soho office building, Capstone Equities secured 140 Crosby Street all for itself. An affiliate of the company acquired the 35,000-square-foot property from Madison Capital for $51.4 million, the Commercial Observer reported. The deal breaks down to $1,469 per square foot. Prime Finance provided $39.6 million in acquisition financing for the transaction, consolidating previous debt against the building. The single lien left includes a gap mortgage for $5.5 million. A spokesperson for Vornado Realty Trust, which co-owned the property with Madison Capital, declined to comment to the outlet. The other parties […]

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