Nearly Full New York Office Building Gets Downgrade, MF1 Capital Kicks Off Single-Lender Offerings, J.C. Penney Lease Gives Boost to Mall

Nearly Full New York Office Building Gets Downgrade: S&P Global Ratings lowered its ratings on the commercial mortgage-backed securities deal holding a $112 million loan on RXR Realty’s 1.25 million-square-foot office building at 237 Park Ave. in New York. The ratings downgrade is unusual in that the property is 98% leased, loan payments have never been delinquent and the loan on the property has never been specially serviced or on any watchlist.