Investors watch New York closely because Wall Street slices such loans up, packages them together into bonds and sells them to pension funds and asset managers worldwide. Collapsing prices for loans backed by top-tier properties in the Big Apple, which many consider a bellwether for urban markets nationwide, signals there may be more trouble ahead for the more than half-trillion-dollar market for so-called commercial mortgage-backed securities. Can the CMBS market make a comeback post-pandemic? Why or why not? Join the conversation below. New York’s size and the diversity of its businesses tend to highlight market trends, and the coronavirus pandemic dealt the city a severe and relatively early blow. The shutdown for months emptied offices and restaurants, closing theaters and shops that attract visitors from around the world. Now investors are tracking its reopening closely, attempting to gauge what businesses rebound and how quickly. Nationwide, signs […]