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Old Posted Apr 2, 2009, 12:58 PM
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http://www.bloomberg.com/apps/news?p...WzE&refer=news

Defaults Rise as Worst Is Yet to Come for Commercial Property

By David M. Levitt
April 2, 2009

Quote:
The Nobu Hotel & Residences in lower Manhattan is among properties on Real Capital’s troubled asset list. Real Capital called it a “challenged development” because Nobu has lost some construction funding. The planned 62-story tower, the Nobu sushi restaurant chain’s first U.S. hotel, was being built by investor Kent Swig and is near the New York Stock Exchange.
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