The Real Deal New York

Riverton tops NYC’s distressed commercial properties list

March 02, 2010 02:06PM

Riverton Apartments is at the top of the list of New York City’s commercial properties that are at least 60 days delinquent, by size of loan balance, according to data from commercial loan tracking firm Trepp updated through today. (See full list of delinquent properties — and zoom in on them — in chart below or click here to see the PDF, plus see a slide show of some of the properties above.) Laurence Gluck bought Riverton, the 12, 13-story buildings that lie between 135th and 138th streets and Fifth Avenue and Harlem River Drive, for $135 million in 2005, then refinanced the property with a $225 million mortgage. The foreclosure auction is set for March 11. Other large delinquent properties include Hampshire Hotels & Resorts’ Dream Hotel at 210 West 55th Street, with a loan balance of $100 million, and Time Hotel at 224 West 49th Street, also owned by an affiliate of Hampshire Hotels & Resorts, with a balance of $55 million. Also included on the list are the Meyberry House at 220 East 63rd Street with a $90 million loan balance and and the Core Club retail condominium at 60 East 55th Street, with an $18 million balance. The Real Deal looked at commercial properties that were 90 or more days delinquent in its 2010 Data Book. TRD

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