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Times Square ABC Tower CMBS Loan Hits Special Servicing

Source: commercialobserver.com

A Times Square office tower anchored by ABC and Good Morning America has entered special servicing due to its loan problems.
The $435 million CMBS loan, maturing in 2026, is now managed by CWCapital amid tenant vacancies and market stress.
This move signals rising distress in NYC's office sector as remote work persists.

A Manhattan office property at 7 Times Square, anchored by ABC studios and Good Morning America, has landed in special servicing because its $435 million commercial mortgage-backed securities loan is struggling. The loan's special servicer, CWCapital, took over to handle potential defaults amid high vacancies and tough refinancing conditions. Involved parties include loan owner Bank of New York Mellon and property owner Boston Properties. It matters because it highlights broader woes in New York