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MAG Partners Announces Construction Financing for 480-Unit Affordable New York Development in Chelsea

MAG Partners Announces Construction Financing for 480-Unit Affordable New York Development in Chelsea

New York, NY, Oct. 23 (Korea Bizwire) — MAG Partners today announced that it has secured a $173 million construction loan from Madison Realty Capital that will allow work to commence next month on a 479-unit rental residential building at 241 W. 28th Street in Chelsea. The project will be developed under the Affordable NY program [...]

S. Korea to Further Tighten Property Rules, Expand Regulated Areas to Curb Rising Home Prices

S. Korea to Further Tighten Property Rules, Expand Regulated Areas to Curb Rising Home Prices

SEOUL, June 17 (Korea Bizwire) — South Korea said Wednesday that it will further tighten lending rules and designate more areas subject to tighter regulations in an effort to stem a further rise in housing prices. The government rolled out its toughest measures yet to stem rising housing prices in greater Seoul and some unregulated [...]

Apartment Fever Grips S. Korea

Apartment Fever Grips S. Korea

SEOUL, Oct. 5 (Korea Bizwire) — A 41 year-old office worker earned a windfall of 80 million won (US$71,000) over a canceled apartment transaction, a case that underscores the recent rapid surge in home prices in Seoul. The salaried worker of a major South Korean conglomerate made a down payment of 10 percent of the [...]

Court Rules “Robot Taekwon V” is Independent Property

Court Rules “Robot Taekwon V” is Independent Property

SEOUL, Aug. 1 (Korea Bizwire) — A South Korean court has found that the Korean cartoon character “Robot Taekwon V” is a separate property, with independent copyright that is distinguished from “Mazinger Z,” its Japanese counterpart. In a case filed against an importer of toy goods by the “Robot Taekwon V” company, the court ordered [...]

Madison Realty Capital Provides $167.5 Million of Financing to Restructure Madison Square Park Tower, Luxury Condo Project at 45 East 22nd Street

Madison Realty Capital Provides $167.5 Million of Financing to Restructure Madison Square Park Tower, Luxury Condo Project at 45 East 22nd Street

NEW YORK, Jun. 11, 2018 (Korea Bizwire) — Madison Realty Capital (MRC) closed a $167.5 million first mortgage loan collateralized by Madison Square Park Tower, a luxury condominium development located at 45 East 22nd Street in the Madison Square Park neighborhood of Manhattan.  In a complex multi-party transaction MRC rapidly delivered financing to Ian Bruce Eichner [...]