Man wanted for Flatiron bank robbery

Bank robbery suspect

The New York City Police Department is seeking the public’s assistance in identifying a man wanted for questioning in connection to a bank robbery in the Flatiron District.

Police reported that on Wednesday, September 25 around 2:53 p.m., an unidentified man approached a teller and passed a note demanding money inside the Wells Fargo at 777 Sixth Avenue near West 28th Street.

The man reportedly simulated a weapon but did not display one at the time of the incident. The teller complied and the suspect fled the location with $150. There were no injuries reported as a result of this incident.

The person wanted for questioning is described as a black man with a dark complexion and in his fifties.

Anyone with information in regard to the identity of this male is asked to call the NYPD’s Crime Stoppers Hotline at 1-800-577-TIPS (8477) or for Spanish, 1-888-57-PISTA (74782). The public can also submit their tips by logging onto the CrimeStoppers website at nypdcrimestoppers.com or on Twitter @NYPDTips. All calls are strictly confidential.

Fannie Mae to back Stuy Town deal

Jonathan Gray (photo by Sabina Mollot)

Jonathan Gray (Photo by Sabina Mollot)

By Maria Rocha-Buschel

Mortgage giant Fannie Mae recently announced that it will be backing Blackstone and Ivanhoe Cambridge’s acquisition of Stuyvesant Town and Peter Cooper Village with a $2.7 billion credit guarantee.

The government-backed company made the announcement last Monday, The Real Deal first reported, noting that to finance the acquisition, an affiliate of Blackstone will secure the loan from Wells Fargo’s multifamily division, one of Fannie Mae’s lenders. This mean that Wells Fargo will originate the acquisition loan and pass it on to Fannie Mae, then sell it off to investors in the form of commercial mortgage-backed securities.

The agreement means that the federal government will effectively back Blackstone’s $5.3 billion acquisition, on top of the $225 million subsidy from the city for the buyers.

The loan carries a 10-year term, although Fannie Mae did not disclose its interest rate.

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CW facing another lawsuit from lenders

Challenge over reported $566M in fees

By Sabina Mollot

On the heels of news that CWCapital, Stuyvesant Town’s controlling entity since 2010, could walk away with over a half a billion dollars in fees from the recent sale and other services, investors have filed suit to try to prevent that from happening.

Investor groups with a trust that’s a lead lender of the property’s senior debt filed the legal action last Thursday. This was after, they said, CWCapital “deflected or ignored” their questions about how the company intended to disperse the reportedly massive windfall. The plaintiffs, affiliated with hedge fund Appaloosa Management, are: Appaloosa Investment, L.P.I, Palomino Fund Ltd., Thoroughbred Fund L.P., and Thoroughbred Master Ltd.

The investors said CW has reportedly claimed it is entitled to about $566 million in default interest, based on a three percent rate on the senior loan calculated from 2010 and the fact that the property was sold for more than the senior debt. However, the plaintiffs argued, that money is not supposed to go to CWCapital, but instead to senior lenders.

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