8 addresses new to distressed properties list

alternate textFrom left: 2 Rector Street and 100 John Street (source: PropertyShark)

Two properties joined the top 10 delinquent loans list for April, according to Trepp data. An office building at 2 Rector Street came in at number four with a $100 million loan balance, tying with the Dream Hotel at 210 West 55th Street, while the Renaissance multi-family building at 100 John Street hit the list at number eight, with an $84 million loan balance.

Of the 48 New York City defaulted commercial properties that were 60 days or more delinquent in April, there were eight new entries from a month prior (click here to see the March delinquencies).

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Stuyvesant Town and Peter Cooper Village once again topped Trepp’s list after making their debut on the list last month. The 110-building development has a loan balance of $3 billion. Harlem residential complex Riverton Apartments once again assumes a distant second-place position this month, with a $225 million loan balance.

Five properties exited the list this month: 290 Madison Avenue; 2445 Frederick Douglass Boulevard; 503 West 150th Street; the Allstate Building at 2275 Coleman Street in Marine Park, Brooklyn and 2-14 & 16 West Mount Eden Avenue in he Mount Eden area of the Bronx.


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