broadway

The “AAA” Lie: Why the Commercial Real Estate crash is officially worse than 2008 (A Deep Dive into the 1740 Broadway Deal)

via Macro_Untold Everyone talks about the “coming” crash, but if you look at the actual transaction logs from the last 6 months, the crash isn’t coming—it’s already here, and it’s being hidden by “Extend and Pretend” accounting. I’ve been digging into the specific numbers on the Blackstone 1740 Broadway default in NYC, and the math …

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Chic hotel in heart of Broadway converted to migrant shelter in latest sign of growing NYC migrant crisis

The hotel site still boasts a Japanese restaurant and bar in its lobby and “Art Nouveau styled hotel rooms” with “sophisticated furniture, plush beds with down comforters and deluxe linens, flat-screen televisions with cable and C.O. Bigelow toiletries.” But recent visits to the Square Hotel found a much different scene. A National Guard soldier is …

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