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The Branson, mixed use building at 15 West 55th, down the street from the Peninsula, goes to special servicing in July.

15K of 3 level retail space + 31 resi units (6 of which were rent stabilized at loan origination in Jan 2015)
2/ Domenico Vacca, a high end fashion retailer which accounted for 58% of the in-place base rent when the loan was originated, has defaulted.

Lease signed in 11/14, near top of #highstreet retail market.

I expect we will see quite a few of these in coming quarters.
3/ Coverage on the loan was decent prior to default. But this one is likely to leave a mark.
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