Trepp and CompStak Release Report Analyzing How the Pandemic is Shaping the Manhattan Retail Market
Summary
In this report, Trepp and CompStak examined the impact of the coronavirus pandemic on the Manhattan retail sector amid the holiday shopping season. Instantly access the report here: https://info.trepp.com/manhattan-retail-report-dec-2020-pr “Signs of increased distress have been reflected in CMBS loans backed by Manhattan retail through rising delinquencies, reduced occupancy rates, and lower appraised value assignments, making this a segment that warrants close monitoring,” said Catherine Liu, report co-author and Trepp Associate Manager of Research. Delinquency and special servicing rates for Manhattan retail climbed to an all-time high of 16.78% and 17.55% in August, respectively, up from 2.38% and 8.41% in February, as compared to historical peak levels of 3.71% and 4.39% prior to this year. Trepp provides primary and secondary market participants with the web-based tools and insight they need to increase their operational efficiencies, information transparency, and investment performance. CompStaks 30,000 members provide data covering the entire US, and its paying customers include the worlds largest real estate investors and lenders like Wells Fargo, Tishman Speyer, Vornado, AEW, CIM, Moody’s, and many more.
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