Commercial Observer Carter Management Corp has paid $51 million for the stalled residential condominium project at 305 East 61st St in Manhattan The property was purchased at a recent bankruptcy auction Maltz Auctions and Rosewood Realty arranged...
The Real Deal Regus has thrown six of its locations in New York City into bankruptcy Four of the flexible-office provider’s locations are in midtown Manhattan: 1325 Sixth Ave, 1501 Broadway, 424-434 West 33rd St and 1740 Broadway The others...
The Real Deal A 225-room hotel project in New Rochelle, NY, has filed for Chapter 11 bankruptcy Ward Capital Management, a Dobbs Ferry, NY, developer, had received approval last summer to build the 24-story property at 115 Cedar St It was scheduled...
Reuters Town Sports International Inc, the owner of 185 fitness centers in Boston, New York, Philadelphia and Washington, DC, has filed for Chapter 11 bankruptcy protection The company’s portfolio includes 99 New York Sports Clubs Most of its...
Ashford Hospitality Trust Inc has sold its Embassy Suites Midtown Manhattan hotel, allowing it to eliminate its obligations under the 310-room property’s mortgage and mezzanine indebtedness The Dallas REIT in May had said the property’s...
Commercial Real Estate Direct Staff Report The $2821 million CMBS loan against the Tysons Galleria Mall in suburban Washington, DC, is getting transferred to special servicing as it’s not expected to pay off at its upcoming maturity next week...
Cash flows at hotel properties that back CMBS loans have seen a 50 percent drop in cash flow when compared with underwritten levels as a result of the coronavirus pandemic Not surprisingly, cash flows at retail properties also have dropped, but by...
Madison Realty Capital has filed to foreclose against the $236 million of financing it had provided just more than a year ago against a proposed mixed-use building in the Williamsburg section of Brooklyn, NY The alternative lender has filed...
The Real Deal SL Green Realty Corp has scheduled a foreclosure auction for Oct 15 on the 19-story 590 Fifth Ave office building in Manhattan The New York REIT holds a $25 million mezzanine loan against the 100,000-square-foot property Thor...
