New York Office Bonds Hit With Downgrades, One Property Raises Concerns for Three CMBS Deals, More Loans Get Due Dates Pushed Back

New York Property Bonds Hit With Downgrades: S&P Global Ratings has lowered its ratings on four classes of bonds tied to a $258.7 million loan secured by the 1.06 million-square-foot Grand Central Plaza office tower and an adjacent 17,000-square-foot retail building in Manhattan. The bonds are part of the CMBS deal LCCM 2013-GCP.