Northeast

Goldman funds $395m refinancing for New York’s 70 Pine Street

The New York City property was converted from an office building into a multi-use asset.

NYCB stress spurs moves to resolve bank lending portfolios

Private credit lenders and other alternative sources of capital are already stepping in to work with national and regional banks to restructure loans.

280 Park Avenue loan hits special servicing 

SL Green Realty Corp and Vornado Realty Trust will have to contribute substantial equity to extend the loan, per servicer remittance reports.

Inside Ares and RXR’s New York office joint venture 

The Ares-RXR venture comes at a time when transaction activity in the city has started to tick upward and capital is starting to move.

Clarion hires Karlekar to head global research and strategy

Indraneel Karlekar returns to the New York manager, where he previously headed research during his days with affiliate ING.

SL Green to launch $1bn New York-focused office debt fund

The local investor has been a long-time debt investor alongside its equity portfolio.

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.