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 […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Credit Scoring Is Changing: 3 Things Homebuyers Should
Know
Don't Let the Fear of a Buyer Backing Out Scare You Away
from Selling
Who’s Buying Homes with Cash Right Now?
Why Builders May Be More Motivated To Sell Than
Homeowners
What a Property Manager Really Costs (and How to Self-Manage
for Less)
Is the Housing Market About to Crash? What the Data
(Actually) Shows
First-Time Landlord? How to Find Great Tenants on Your Own
(Rookie Reply)
What’s at stake for real estate on election day
“Like pouring gasoline onto the fire”: Mitch Kossoff
explains stealing from clients to prop up failing
businesses
Madison Capital, Lubert-Adler finally sell 71 Fifth Ave
leasehold
