Chetrit, Stellar delinquent on Upper West Side retail complex
While UDR looks to sell its Columbus Square rental buildings, Stellar Management and the Chetrit Group are facing familiar distress on the connected retail component. The loan backing the outdoor mall on Columbus Avenue between West 97th and 100th streets was sent to special servicing, Crain’s reported. The transfer took place “after missing several loan payments over the last few months,” as disclosed by Morningstar Credit Analytics. Representatives for the two ownership entities did not comment to the publication, only adding to the mystery of why the loan is in special servicing for a second time. Local eyes and ears […]
This article originally appeared on The Real Deal. Click here to read the full story.
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