Grid Properties’ Harlem shopping center again faces default warning
Grid Properties batted away concerns around the mortgage backing Harlem USA last year. Time will tell if owner Drew Greenwald feels the same way this time around. The $108 million mortgage backing the 250,000-square-foot shopping center was transferred to special servicing, Crain’s reported, citing a report from Morningstar Credit Analytics. The reason for the transfer was “imminent monetary default,” according to the report. The loan is set to mature at the beginning of October. Greenwald did not respond to a request for comment from the publication, nor did the Gotham Organization, which owns a stake in the property. Last March, […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Latest Architects’ Survey Shares What’s Hot And Not In
American Homes
The Three Operational Investments That Actually Move Renewal
Rates
What To Know About Each Stage Of A Commercial Real Estate
Deal
Why Luxury Retail Is Shifting To Smaller Stores, Bigger
Flagships
Biologique Recherche Debuts A New Architectural Concept At
Its SoHo Location
Lender wins foreclosure sale for Mike Kohan’s Garment
District office building
Judge halts initial pied-à-terre tax rollout, orders
do-over
Housing Notes: Sinking sales at the
Sherry-Netherland
Long Island’s Oheka Castle hitting auction block after
foreclosure
AG James settles first case in de facto rent stabilization
sweep
