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IN RE AQUA ASSOCIATES

Bankruptcy No. 90-13542S.

123 B.R. 192 (1991)

In re AQUA ASSOCIATES, a Pa. Limited Partnership, Debtor.

United States Bankruptcy Court, E.D. Pennsylvania.

January 17, 1991.

Attorney(s) appearing for the Case

Melvin Lashner, Philadelphia, Pa., for debtor.

William T. Steerman, Philadelphia, Pa., for Third Mortgagee.

James J. O'Connell, Ass't. U.S. Trustee, Philadelphia, Pa., U.S. Trustee.

Kerry S. Schuman, Jenkintown, Pa., for Fay Goodman.

Steven R. Geroff, Philadelphia, Pa., for Second Mortgagee.

OPINION

DAVID A. SCHOLL, Bankruptcy Judge.

A. INTRODUCTION

Presented is a motion of the Debtor, the sole asset of which is a large building situated at Ninth and South Streets in Philadelphia, to obtain credit which contemplates providing a first lien on the building to the new lender over the objection of the incumbent first mortgagee, pursuant to 11 U.S.C. § 364(d). We hold that a qualitative analysis, similar to that performed by us in

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