The Real Deal New York

Stamford high-rise misses loan repayment deadline

July 20, 2017 03:55PM

If there’s ever an argument against making interest-only payments on a mortgage, the 15-story property at 400 Atlantic Street in downtown Stamford bears testament to it. The entire principle for the $265 million loan came due on June 6 but because the owners, The Landis Group, had only been paying the interest. Uncertainty now swirls over the building’s future. A loan modification proposal was submitted and denied on June 2, according to the Stamford Advocate. [Stamford Advocate]