Navigating the Delinquent Office Space Market: Insights from NYC Developers and Property Barons.
The distressed asset specialists are preparing for a wave of negotiations as cities nationwide will likely see a wave of distressed office assets hit the market later this year. The drama of a distressed property tends to have three main players: the bank, the borrower, and a receiver. The receiver role can be akin to that of Mr. Wolf, the fixer from the film Pulp Fiction. The rush to create funds focused on distressed office assets may complicate the sales process of this real estate.