After GlobeSt. reported yesterday that GFP Real Estate defaulted last month on a $103M CMBS loan on the DuMont Building, a landmark Art Deco-style building at the corner of Madison Avenue and 53^rd Street, we got a quick response from GFP, which we're pleased to share with you:

"We have agreed to terms with our lender and are finalizing documentation to extend the existing loan. We are quite confident that we will be able to repay the loan during this extension," Jeff Gural, Chairman and Principal of GFP Real Estate told GlobeSt., in a statement.

Built in the same year as the Empire State Building—in the depths of the Great Depression in 1931—the 42-story DuMont building was 84% occupied in December, with its largest tenant a flexible office space provider, according to a report in Crain's. Memorial Sloan Kettering, another key tenant, is vacating the building in June and relocating to new office space on the Upper East Side.