Wednesday, August 27, 2008

Stellar's only the tip of the iceberg

The New York Times reports that Stellar Management, Inc.'s threatened default on the mortgage of Riverton Apartments in Harlem is only the tip of the iceberg. Predatory equity - real estate interests expecting returns on their investments only possible with the ouster of existing tenants - was unsupportable from the outset.

Click here for the article.

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