It wouldn’t be the end of 2025 without one more office distress scenario playing out in Manhattan. The debt backing Brookfield’s One New York Plaza was shipped to special servicing recently, the Commercial Observer reported. The goal of the maneuver is to aid Brookfield in modifying the $835 million CMBS loan backing the 2.5 million-square-foot tower at the intersection of South and Whitehall streets in the Financial District. It’s unclear what prompted the transfer of the loan, but time is of the essence, as it’s set to mature on Jan. 9. Brookfield has never been delinquent or late to make […]

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