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Article: Kennedy's funds get around.(Finance: real estate)
- Article from:
- Real Estate Weekly
- Article date:
- June 23, 2004
CopyrightCOPYRIGHT 2004 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Kennedy Funding, a direct private lender based in Hackensack, N.J., finds it hard to keep a low profile these days. When Penthouse founder Bob Guccione faced creditors breathing down his neck, Kennedy quickly turned around a $14.5 million loan to buy Guccione time and found itself on the front pages of real estate and business newspapers.
Several years later Guccione narrowly averted foreclosure on his East Side Manhattan mansion with a $14.5 million payback to Kennedy on his defaulted loan and Kennedy found itself in the news again. Not that the hard money lender from across the river is complaining. Kennedy has seen a sharp rise in demand for commercial real ...
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... ... founder and president of Kennedy Funding, Haskell approved ... he said, adding "Kennedy Funding is to be congratulated ... 500 jobs will stay in New York, jobs that could have ... building." How is Kennedy Funding able to finance projects ...
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