Kennedy's funds get around.(Finance: real estate)

Real Estate Weekly | June 23, 2004 | Copyright

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 ...

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