Singer Defaults on Pencil Factory Loan
More news on the shut-down of the Pencil Factory Lofts work site earlier this month: The project’s developer, Baruch Singer, defaulted on the loan. According to The Real Deal, the Lower East Side-based developer (with a long history of fines and violations) violated the terms of his $6.68 million subordinate loan from Aristone Capital Funding…
More news on the shut-down of the Pencil Factory Lofts work site earlier this month: The project’s developer, Baruch Singer, defaulted on the loan. According to The Real Deal, the Lower East Side-based developer (with a long history of fines and violations) violated the terms of his $6.68 million subordinate loan from Aristone Capital Funding in March by failing to complete the conversion of the former pencil factory at 122 West Street in Greenpoint in a timely manner. Photo by New York Shitty. GMAP
The Chinese and Germans control our pencil market now… try bringing this factory back online in a time of war when it’s all condos!