Framing the Dialogue

Posts Tagged ‘moochers’

Moochers Lament

Way back in the early 1980s I worked at a restaurant atop Pittsburgh’s tallest building.  The food was decent; the service was good; the view was awesome!  The U.S. Steel Building now sports a “UPMC” (University of Pittsburgh Medical Center) sign acknowledging their biggest client.  The famed building was recently acquired by UBS Real Estate Securities Inc. based out of New York.  Pittsburgh’s Tribune review reported that the investing group has skillfully locally recorded “is a consignment of leases and rents by the lender in the deal…UBS also recorded a mortgage document for a $220 million loan UBS provided for the acquisition to Manhattan-based Karasick and his partners.”  Neither action requires the payment of transfer taxes which was estimated to be $10 million.