Fwd: 45 East 66th Street - Purchase of Air Rights for Additional PH Space
Dear Mr. Mitchell,
In connection with the above captioned purchase, please provide us with your Bank Officer Contact information. Upon receipt, we will contact the Officer directly, to make arrangements for the closing.
Thank you.
Awilda Vicens
Co-Director
Closing Department
Brown Harris Stevens Residential Management, LLC
New York, NY 10065
Tel Fax
Key information from the image:
- Jeff is identified as a bank officer, but he does not handle closings.
- Recipient: David Mitchell, Mitchell Holdings LLC, New York NY 10151, USA.
- Sender: Awilda Vicens, Co-Director, Closing Department, Brown Harris Stevens Residential Management, LLC, New York, NY 10065
- Email date: Oct 16, 2018, 12:11 PM
- Website: http://www.bhsmanagement.com/
David, I sent you the payoff yesterday.
Mr. Ihrig,
Kindly provide me with the Bank Officer or Bank Attorney's contact information that currently service Mr. David Mitchell's loan.
Thank you.
Awilda Vicens
Co-Director
Closing Department
Brown Harris Stevens Residential Management, LLC
New York, NY 10065
Awilda, I am the bank officer. However, I have never been approached with this before. What exactly do you need from us?
David insists he is improving our collateral, but I need to know more.
Jeff Ihrig, Managing Director at First Republic Bank. Based in New York, NY 10019 and Boston, MA 02110.
Please be advised that Mr. David Mitchell purchased Air Rights for his additional PH space. The current stock certificate and proprietary lease have been pledged and we will need to include the additional shares purchased (355 shares) with the current shares to the PH apartment. We will need to cancel out the current collateral and issue a new stock certificate and proprietary lease with the new shares totaling 2, 190.
Please advise how we can proceed. If you rather discuss over the phone, you can reach me at the number below.
Thank you.
Awilda Vicens
Co-Director
Closing Department
Brown Harris Stevens Residential Management, LLC
New York, NY 10065
This makes perfect sense. Thanks. Let me see whom I can get to work on this.
Dear Jeffrey,
Please advise who I should be speaking to concerning the matter above.
Thank you.
Awilda Vicens
Co-Director
Closing Department
Brown Harris Stevens Residential Management, LLC
New York, NY 10065
Dear Jeffrey/Patricia,
To date I have not heard from anyone concerning the above. Please advise as soon as possible so we may begin the process of closing the above matter.
Thank you.
Awilda Vicens
Co-Director
Closing Department
Brown Harris Stevens Residential Management, LLC
New York, NY 10065
I am very sorry. I haven't dealt with this before, so I am not sure where to turn. I am copying Whitney and William, whom may be able to point us in the right direction on this Air Rights purchase.
Jeff
Your point of contact in Legal for residential loan is Ben Spohn. Whitney is not involved in this space, so no need coping her further.
I have some thoughts on your issue, as I shared previously with you, that I need to fill Ben in on. Essentially, the risk to the Bank is taking the air space as collateral without advancing any new money. This is known in legal parlance as a fraudulent conveyance, and the risk is that it could invalidate the Bank's current liens. Is there anyway the coop can split the shares for the air rights separately and keep the transactions apart? This would remove the risk to our current lien.
Ben is out today, but I will circle with him on Monday. Give me a call if you wish to discuss further today. Thanks.
-Bill
William A. Holley III
Vice President, Office of General Counsel
First Republic Bank New York, NY 10020
Sure. It would be Ben next week. He is out... I will try to coordinate.
No content available.
Mitchell Holdings LLC
New York NY 10151
USA