Gonzalez Y Gonzalez before it closed

A GreenwichVillage Mexican restaurant will be allowed to begin doing business in its old space, at 625 Broadway, again, but with one odd provision: it can’t sell tacos or burritos. Gonzalez y Gonzalez closed its restaurant, between Bleecker and Houston streets, in January when a Chipotle took over the space, DNAinfo reported. But now, it will return to about half of its former space under the condition it not sell anything that the massive Mexican chain also sells. [more]

From left: Howard Kesseler, managing director at Newmark Knight Frank, and 625 Broadway

A Noho office building that had fallen into receivership has experienced an unlikely revival, Real Estate Weekly reported.

The 12-story office tower at 625 Broadway, at Houston Street, has seen an uptick in leasing since Howard Kesseler, a managing director at Newmark Knight Frank, and his associate Jordan Gosin, an associate director, started focusing on creative tenants, REW said. [more]

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 it — here, 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 [more]

The dollar value of securitized commercial loans 30 days or more
delinquent in the greater New York City metropolitan area fell 17
percent in July compared to a month earlier, a new report by
commercial mortgage research firm Trepp said. There were 92 delinquent loans with a total value of $1.4 billion in
July in the region, compared with 101 loans with a total value of $1.7
billion in June, the data shows. Nationwide, the percentage of delinquent CMBS loans was 3.7 percent,
down from 4 percent in June, but up sharply from the rate of 1.4
percent seen seen six months ago, Trepp figures show. [more]

The total value of delinquent securitized loans written on Manhattan properties declined by 55 percent in May to $121 million from $272 million in April, according to data from loan tracking firm Trepp. While this drop is significant, the majority of the value of April’s delinquencies was the $225 million note on the Riverton Houses in Harlem, and that note was no longer classified as delinquent in May. Included for the first time on the delinquency list in May was $30 million remaining on a loan with an original principal balance of $375 million on Kent Swig’s Sheffield57 at 322 West 57th Street in Midtown, and $53 million secured by the Soho office building 625 Broadway owned by the Moskowitz family, the data shows. [more]

After the mortgage payment on the $53 million loan on the 12-story
office building 625 Broadway in Soho was late, the securitized note was
transferred to a special servicer, according to data from commercial
mortgage research firm Trepp. The loan on the 84,000-square-foot office building was transferred to
a special servicer March 18,
Trepp information says. The building is owned by members of the Moskowitz family, who are
principals of the Flatiron District-based property management company
Argo Corporation, and held in the name 625 Broadway Owners, according
to city records and published reports. [more]