- Firm stopped paying the mortgage on Manhattan’s 1740 Broadway
- Debt servicer said to market $308 million loan at $150 million
The $308 million mortgage on a Manhattan office tower owned by Blackstone Inc. is up for sale again after the private equity giant defaulted on the debt more than a year ago.
Midland Loan Services, the special servicer, hired brokerage Jones Lang LaSalle Inc. to sell the loan backed by 1740 Broadway, according to people familiar with the matter. The debt, which is packaged into a commercial mortgage-backed security, is being marketed at roughly $150 million — a 50% discount — said the people, who asked not to be named because the process is private.
No comments:
Post a Comment