New York

M&T Realty Capital shakes up senior leadership

Michael Berman will shift from chief executive to executive adviser, as M&T taps Michael Edelman as his successor.

Blackstone’s defaulted 1740 Broadway loan sale hits the market

The $308m loan is expected to be sold for a 50% discount.

Borrower profile: Time Equities sees low leverage as key for strong office performance

The firm has an almost 95% occupancy rate in its office portfolio.

WeWork bankruptcy hits hardest for New York-focused CMBS deals 

The flexible working provider is seeking to reject 69 leases in North America, according to research from rating agency KBRA.

Limited clarity expected from pending Signature Bank loan portfolio sale 

Related Companies and Blackstone are among reported bidders for the failed bank’s commercial and multifamily lending portfolios.

Tax, economic incentives needed to spur New York office-to-multifamily conversions

Newmark’s Jimmy Kuhn and Fried Frank’s Jon Mechanic say developers need support to convert obsolete properties.

Borrower view: Monday Properties plans industrial pivot

Monday Properties has historically also pivoted its portfolio as markets dynamics change

Aggarwala: ‘No other way for NYC to decarbonize its large buildings’

The city’s chief climate officer is ‘serious’ about enforcing Local Law 97 to reduce carbon emissions of the city’s biggest assets by 2030.

Fortress funds $260m New York hotel financing 

The New York-based alternative lender originated the loan on behalf of MCR Hotels and Island Capital Group.

Academy Securities warns on impact of servicer replacements in CMBS workouts

The firm cited concerns over the workouts of New York’s 1740 Broadway, which has seen its servicer replaced twice since entering special servicing.