Lots More on the Two Troubled NYC Office Buildings Everyone's Talking About
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 31 May 2024
⏱️ 26 minutes
🧾️ Download transcript
Summary
Over the past two weeks, two New York City office buildings have become major talking points in the market for commercial real estate. Troubles at 1740 Broadway led to the first loss in the AAA-rated tranche of a commercial mortgage bond since the financial crisis. Meanwhile, issues at 1440 Broadway recently propelled the serious delinquency rate for office loans to its highest level since early 2007. So what do these two properties tell us about the outlook for commercial real estate, and how these deals work? On this episode of Lots More, we bring back Hiten Samtani, founder of ten31 Media, to talk about the future of these buildings, as well as their storied history.
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