Ian Schrager still hasn't moved into the penthouse at his own 40 Bond, but Page Six reports that it'll happen soon enough: "The hotelier/real-estate developer just upped the mortgage on his penthouse at 285 Lafayette St. from $6.7 million to $11.25 million, giving him $4.55 million to play with. The 15-year loan from Bank of America starts with an interest-only payment of $70,245.55 on Dec. 1. The interest rate stays at 6.38 percent until annual increases start in 2016. He's also required to escrow his city taxes of more than $24,300 per year. A spokesman told Page Six Schrager upped the mortgage so he could build out his penthouse in the building he co-owns at 40 Bond St. When construction is complete, he'll sell the Lafayette Street unit." [NYP]For more stories from Curbed, go to curbed.com.
