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$16B in CMBS loans nearing cliff in NYC

Commercial mortgage maturities are piling up in New York City as higher interest rates and recession anxiety make refinancing a major challenge. More than $16 billion in loans secured by New York City commercial...

$16B in CMBS loans nearing cliff in NYC
Alpha Realty’s Lev Mavashev, Ariel Property Advisors’ Shimon Shkury, and CHIP’s Jay Martin (Getty; Illustration by The Real Deal)

Signs of distress hit rent-stabilized buildings

Since October, Lev Mavashev has been fielding more and more calls from owners looking to unload rent-stabilized buildings with...

Signs of distress hit rent-stabilized buildings
 Simon Property Group’s David Simon with Crystal Mall (Cube 3 Studio, Getty)

Simon surrenders Connecticut mall to lenders

Simon Property Group is out at a Connecticut mall. The real estate investment trust and its partners recently relinquished...

Simon surrenders Connecticut mall to lenders
From left: Michael Stern, Kevin Maloney and Bobby Zar with 111 West 57th Street (left) and 43 East 53rd Street (Getty, SHoP Architects, Google Maps)

Steinway Tower refi topped Manhattan loans in September

All that glitters is not gold, and ultra-pricy Manhattan real estate certainly glitters. Several residential projects in the borough,...

Steinway Tower refi topped Manhattan loans in September
Trepp’s Manus Clancy (Trepp, Getty)
National

Breaking down the wild CMBS market

Freeze, thaw, chill, repeat. The CMBS market — a key source of financing for commercial real estate — has been on a wild ride in recent weeks as the broader financial markets have skidded...

Breaking down the wild CMBS market
(Getty)
National

CMBS volume plunges 29% in second quarter

Rising interest rates are sinking CMBS activity, bringing the market back to earth after a banner year in 2021. Banks issued $20.6 billion of securities backed by real estate loans in the second quarter,...

CMBS volume plunges 29% in second quarter

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