Loan on Union Crossing, 825 East 141st Street, For Sale

Union Crossing at 825 East 141st Street with LibreMax's Greg Lippmann (Union Crossing Bronx; LibreMax)

Union Crossing at 825 East 141st Street with LibreMax’s Greg Lippmann (Union Crossing Bronx; LibreMax)

Distress alert: A $78.6 million sub-performing loan on 825 East 141st Street is for sale.

The loan on the South Bronx warehouse-to-office conversion known as Union Crossing was originated by Greg Lippmann’s LibreMax in January 2020 for the owners to continue renovating and leasing the building, Commercial Observer reported.

The Bluestone Group, Altmark Group, Madison Realty Capital and Galil Management bought the building in 2016 for about $39 million. The partnership then undertook a $45 million renovation shortly before landing a refinance deal with LibreMax.

The first tenant, Westhab, a nonprofit that develops affordable housing, signed a 10-year, 8,233-square-foot lease in November 2019. The space is meant to serve as a central office for its employees in the city, according to Westhab.

The 282,000-square foot building was constructed as a baking facility for the A&P

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Contractor with ties to Johnny Doc indicted for tax fraud and defrauding union benefit fund

A close associate of Philadelphia union leader John “Johnny Doc” Dougherty was indicted Wednesday on multiple counts of bank fraud, tax fraud and stealing from the benefits funds for union workers.

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Donald “Gus” Dougherty, 54, collaborated with Michael McKale, an accountant working for his company, Dougherty Electric Inc., to alter financial records and lower the amount of federal taxes he was required to pay, according to the indictment filed Wednesday in U.S. District Court.

McKale, 47, has been charged with conspiracy to defraud the IRS and related offenses.

Dougherty’s attorney, Eric W. Sitarchuk, said Wednesday he “intends to vigorously contest the charges.”

Though Dougherty is not related to the prominent Democratic kingmaker, the two have been lifelong friends, and have been linked in the FBI’s ongoing probe against John Dougherty.

Gus Dougherty pleaded guilty in 2008 to defrauding John Dougherty’s Local 98 out of more than $500,000 in

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Rochester considers building purchase as part of plan for Union Street parking lot

Kyle Stucker
 
| Fosters Daily Democrat

ROCHESTER — City Council will consider Tuesday night whether to purchase a multi-family building next to the Union Street parking lot for $290,000 as part of the city’s ongoing plans to revitalize the lot and downtown.

There are no definitive plans or proposals for how Rochester would use 11 Barker Court or if it would demolish the structure, but Economic Development Director Mike Scala said the property would play a role in “the whole larger plan” for improving the heart of downtown Rochester.

“It’s part of the betterment of the Union Street parking lot,” said Scala. “Having control of that parcel would be beneficial for our redevelopment plans.”

City councilors will review the proposed purchase agreement between the city and 11 Barker Court owners David and Elizabeth Hurlburt during a meeting Tuesday. The council will then hold a public hearing on the proposal later

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Garbage truck drivers’ union accuses contractor of ‘taking advantage of the pandemic’ over pay dispute | The Canberra Times

news, local-news, suez, garbage truck strike, wage increases, industrial action, union

The union representing Canberra’s garbage truck drivers has accused their employer of “taking advantage of the pandemic” as workers walked off the job on Monday. Transport Workers’ Union ACT branch secretary Klaus Pinkas said negotiations with ACT government contractor SUEZ had stalled after more than five months of discussion over pay increases and conditions. However, SUEZ argues the wage increases proposed over the next three years were reasonable, “given the current economic circumstances in Australia”. Mr Pinkas said SUEZ had used the coronavirus pandemic as an excuse not to commit to giving workers a pay increase of 12 per cent over the next three and a half years, rather offering up an 8 per cent jump. “SUEZ, which are a large multi-national, have tried to take advantage of the COVID situation, to say [they] can’t pay the increases they

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Philadelphia Union owner Richie Graham talks about the sale of Brendan Aaronson and future of American soccer

Last week MLS side Philadelphia Union — in the middle of an extremely successful campaign which has them tied for first place in the Eastern Conference — announced that its 20-year-old attacking midfielder Brenden Aaronson had been sold to Austrian side Red Bull Salzburg, and would join the club after the season.



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© Provided by For The Win


The reported figure of the sale was $6 million plus bonuses, the largest ever paid for an MLS Homegrown Player. For the Union, the sale was proof of concept for its strategy over the past few years of focusing on the development of its academy.

In a phone call with FTW, Philadelphia Union co-owner Richie Graham talked about the sale, the changing perception of MLS and American players in Europe, and his vision for youth development in this country.

This interview has been edited for length and clarity.

FTW: Congratulations on this

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