Report: Brill Building Up For Sale Amid Loan Foreclosure
The Brill Building is up for sale. Brill Holdco LLC plans to sell the building after foreclosing on the loans associated with it.
Brill Holdco plans to sell the loans during a UCC foreclosure on March 14, the New York Post reports. Brickman Associates and Allied Partners bought the historic 11-story building for $185.5M in 2013.
After trying to sell it last year, the ownership brought in a group of minority shareholders who signed a deal to become full owners for $300M, but they ran into a financing snag.
Some of the most famous musicians and songwriters in American history worked and recorded in the building, including Elvis, Carole King, Paul Simon and Phil Spector.
A $25M top-to-bottom interior and exterior renovation of the property started in summer 2015. [NYP]
