Sapir faces ticking clock to refinance Madison Avenue office loan – Robert Khodadadian
The Sapir Organization is officially on the clock to refinance a pair of Madison Avenue office buildings. Sapir failed to pay off a $231 million CMBS loan for its high-rises at 260 and 261 Madison Avenue before its mid-June maturity date, according to Trepp, a data service that tracks securitized mortgages. Sapir entered into a forbearance agreement with the loan’s servicer, allowing an additional 60 days to pay off the debt. The firm, led by
Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Home Page, cmbs, Madison Avenue, Real Estate Finance, Sapir The Real Deal New York Read More