Rudin’s 32 Sixth Avenue hits special servicing

An office building controlled by Rudin Management is headed to special servicing, but at the request of the owner itself. The $425 million mortgage backing 32 Sixth Avenue in Tribeca was transferred to special servicing last month, according to Fitch Ratings. The mortgage for the 28-story, 1.2-million-square-foot property matures in November, according to Crain’s. The loan transfer was due to “imminent maturity default.” But a representative for Rudin told the outlet that it requested the transfer to enable negotiations to kick off for a loan modification. “We remain current on our loan payments and are working in good faith with […]This article originally appeared on The Real Deal. Click here to read the full story.