Forte Condos, a high-rise tower in Brooklyn, has gone into default, landing the property back into the lap of Germany-based Eurohypo.
According to a report from the Euromoney Institutional Investor, The Clarett Group defaulted on the loan, which has an outstanding principal balance of more than $40 million.
Eurohypo will recruit Caliper Real Estate Group as property manager for the 28-story tower.
SOURCE: EMII
