It’s a familiar story for Charles Cohen at 979 Third Avenue, though one his company thinks will have a happy ending. The mortgage backing the Decoration & Design Building on the Upper East Side was transferred to special servicing this month, Bisnow reported, citing Morningstar Credit. Green Loan Services, an affiliate of SL Green, was appointed special servicer of the $150 million loan, which matured on May 6, leading to a default for Cohen Brothers Realty. The mortgage is securitized in two CMBS trusts. Citigroup originated a $165 million loan in 2015, but the CMBS bonds backed by the trusts […]

This article originally appeared on The Real Deal. Click here to read the full story.