Tavros

DEBT: 621 GREENWICH STREET

Tavros purchased a series of non-performing notes secured by 621 Greenwich Street, a prime development site located in the West Village, one of New York City’s most highly sought after residential neighborhoods, and zoned for 44,000 buildable square feet of mixed-use residential/commercial area. The property became distressed as a result of the financial crisis of 2008. Tavros acquired the notes at a 20% discount to their initial redemption value and was ultimately able to increase final redemption value by 15% through a court order resulting from Tavros’ legal efforts.

Tavros and DHA Capital acquired the notes in September 2013, which were subsequently repaid in May 2014.

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