The Chetrit Organization has turned two years of negotiations into a done deal for the debt at 65 Broadway. Michael Chetrit’s firm restructured the debt at the 355,000-square-foot office property in the Financial District and extended the maturity date, the Commercial Observer reported. To land the three-year extension on the $151.5 million CMBS loan, Chetrit pumped in additional equity, which subordinates part of the debt. Iron Hound Management’s Kevin Thompson and Will Forbes negotiated the deal with special servicer CW Capital and a CMBS trust. “We believe in a positive future for this asset going forward,” Michael Chetrit told the […]

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