Will The Dream Warriors at The Federal Reserve fix this impending disaster? Or will this be a Nightmare on Constitution Avenue, where the mausoleum-like Federal Reserve building are located? A Blackstone-owned Manhattan office tower with a $308 million mortgage is being marketed at a discounted rate of $150 million, representing a 50% reduction. The special servicer, Midland Loan Services, has enlisted Jones Lang LaSalle Inc. to facilitate the sale of the tower at 1740 Broadway. The bundled debt, included in a commercial mortgage-backed security, is marked with a 50% discount. In April, the tower was appraised at $175 million, a...
