ESG Kullen does bulk condo buy in Delray Beach. January 5, 2018. NY firm plans to upgrade and sell units for more than twice the purchase price ESG Kullen just closed on a bulk condo deal in Delray Beach, and plans to immediately renovate and sell them off individually. The New York-based real estate firm, headed by Eric Granowsky and Thomas DelPonti, paid $7.5 million for 93 units at the 275-unit Murano at Delray Beach, according to Mark Meland, an attorney who represented the firm. The seller was USO Norge Murano LLC, an affiliate of Norwegian investment firm Obligo. The deal at 15005 Michelangelo Boulevard comes out to about $81,000 a unit. MidCap Financial Services provided an $8.4 million loan. ESG will upgrade the condos and hopes to sell them starting in June 2019 for about $200,000 each, Granowsky said. Records show the Obligo affiliate sold the units at a loss. It paid $8.8 million for the units in 2009. In October, ESG bought 118 units of the 219-unit Monteverde at Renaissance in Boynton Beach for nearly $18 million. Click here to view full article. . Katherine Kallergis, Other News5 Questions In The Cardinals Hacking Scandal, July 20, 2015, 5 Ways To Craft An Ironclad Celebrity Chef Deal, September 16, 2013, 5 Ways to Shrink the Threat of an Employee’s Exit to Proprietary Info, April 30, 2014, Archive. July 2024 June 2024 March 2024 November 2023 April 2023 January 2023 November 2022 June 2022 May 2022 . MRB. Contact us, Our attorneys, careers. About. Firm overview, Our Values, Community involvement, Representative matters. Pracrtice. Real Estate, Commercial Litigation, Receiverships and Assignments, Bankruptcy and Restructuring. In the News, Announcements, Film Videos. 2018 Meland, Russin, Budwick. ALL RIGHTS RESERVED.