{"id":164349,"date":"2025-08-21T17:39:12","date_gmt":"2025-08-21T17:39:12","guid":{"rendered":"https:\/\/www.europesays.com\/us\/164349\/"},"modified":"2025-08-21T17:39:12","modified_gmt":"2025-08-21T17:39:12","slug":"manhattan-skyscraper-bonds-hit-hard-by-steep-appraisal-drop","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/164349\/","title":{"rendered":"Manhattan Skyscraper Bonds Hit Hard by Steep Appraisal Drop"},"content":{"rendered":"

Money managers who bought a $705 million commercial-mortgage bond<\/a> tied to Manhattan\u2019s Worldwide Plaza<\/a> building are at risk of substantial losses after the property\u2019s appraisal was slashed amid the departure of key tenants.<\/p>\n

The 49-story skyscraper at 825 8th Ave. was recently reassessed at $345 million, according to loan documents, less than a fifth of its original $1.74 billion value when the debt was issued in 2017. That\u2019s left holders of the once-AAA portion of the bond on track for losses of about $53 million, or 20%, should the property be sold, based on a key industry metric known as an appraisal reduction amount. Holders of $435 million of lower ranking debt are likely to be wiped out.<\/p>\n","protected":false},"excerpt":{"rendered":"Money managers who bought a $705 million commercial-mortgage bond tied to Manhattan\u2019s Worldwide Plaza building are at risk…\n","protected":false},"author":3,"featured_media":164350,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[5229,17945,94782,26448,5249,135,32555,405,403,94780,5226,5225,64953,94781,5228,5227,44428,14458,67,586,132,5230,68,2969],"class_list":{"0":"post-164349","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-america","9":"tag-bonds","10":"tag-daniel-daniel","11":"tag-debt","12":"tag-manhattan","13":"tag-markets","14":"tag-mortgages","15":"tag-new-york","16":"tag-new-york-city","17":"tag-new-york-reit-liquidating-ll","18":"tag-newyork","19":"tag-newyorkcity","20":"tag-nomura-holdings-inc","21":"tag-northwestern-mutual-life-ins","22":"tag-ny","23":"tag-nyc","24":"tag-property-market","25":"tag-sl-green-realty-corp","26":"tag-united-states","27":"tag-united-states-of-america","28":"tag-unitedstates","29":"tag-unitedstatesofamerica","30":"tag-us","31":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115067982250321580","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/164349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=164349"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/164349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/164350"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=164349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=164349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=164349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}