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By Dan Rivoli New York City PUBLISHED 7:20 AM ET Apr. 01, 2021 PUBLISHED 7:20 AM EDT Apr. 01, 2021
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NEW YORK 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.
What You Need To Know
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