Yes I think the building I'm in is 601 Bangs, LLC.
Pretty common to put different properties in different LLC's.
Liabilities in one won't be at risk in the other.
Carter Sackman has the Press building as 603-605 Mattison, LLC (I
assume the old bank building is in that too) but Steinbach's I believe
is held as Emory, LLC or someting close to that.
As for your post below maybe "equity investor" is a term of art in NY.
It certainly could be. It doesn't exist in NJ (at least not as you
propose it below regarding the second set of people).
Here the term "equity" is reserved just for owners, not mortgage or
lien holders. Under your hypos below, the first set (members in the
LLC) certainly are owners so they have equity. Your second set of
people, those who loaned money, have no equity. They are just
lienholders (assuming a lien was given with note, which isn't
automatic).
You speaka' New York, I speaka' New Jersey. ;-)
--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
>
> Tom
>
> I search some of the others just for REI Group. Some of the
properties
> are held in LLCs so the investors may have membership interests or
> simply lent money to the principals with their membership interests
in
> the LLCs as collateral. In either case, they are equity investors,
> directly in the first instance and indirectly in the second.
>
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