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Old 04-02-2021, 02:22 PM
 
Location: Manhattan
8,936 posts, read 4,765,592 times
Reputation: 5970

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I didn't know this.

https://www.ny1.com/nyc/all-boroughs..._vH6wUIyv8V12o

When Ranel Collazo wanted to drive a cab, after 17 years behind a desk at a livery car company, he picked Queens Medallion Leasing.

“I wanted a nice car, like you would have an Uber car or Lyft car, so I started researching companies that leased cars brand new," Collazo said.

Marblegate Asset Management, a private equity firm in Connecticut, controls about a third of the city's medallion market

The firm specializes in distressed assets, and taxi medallions have been in distress since values plummeted from over a million dollars

Marblegate has suspended loan payments on medallions during the pandemic, and forgave $140 million in debts tied to 800 medallions
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