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The property spans a total of 201,000 residential square feet over 14 acres and was completed in September 2020.

Activity in October down 40% since September.

Tower once anchored by JPMorgan will become NYC's largest conversion.

Looming lease expirations are one of the biggest threats to the CRE loan market, particularly for office.

Despite macroeconomic uncertainties and capital markets volatility, remarkably the post-pandemic related travel boom shows little signs of tapering off.

Property expected to sell for $267.8B

Assets represent combined total of approximately 668,000 leased square feet.

"There has been some central bank action behind the scenes and there is a period of price discovery in the marketplace."