Sonder bankruptcy could claim victim in Moinian FiDi debt
More than six months later, the demise of short-term rental company Sonder continues to echo through New York real estate. A $131.5 million commercial mortgage-backed securities loan backed by the Moinian Group’s 2 Washington Street in the Financial District was transferred to special servicing, the Commercial Observer reported. The culprit for the transfer to the workout station was cash flow problems, according to Morningstar Credit Analytics. The loan is split between a trio of conduit deals and is not due to mature until August 2031. Citigroup and Bank of America issued two of those deals, while 3650 Capital securitized the […]
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