A $196M CMBS loan packaged backed by The Aire, a 310-unit luxury apartment tower on the Upper West Side of Manhattan, has gone to special servicing.
The loans on the 43-story tower at 200 West 67th Street, which is owned by A&R Kalimian Realty, the developer who built the apartment building in 2010, is facing "imminent" default ahead of its November 2023 maturity date, according to special servicer commentary from CRED iQ.
The debt includes a $118M loan and a $78M loan that are both part of the CMBX 7 index, which includes a mix of loans in several CRE sectors. The property was valued at $365M in 2013.
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