Outlook Clouds for Brookfield’s New York Office Complex, Retail Properties Make Up Bulk of Foreclosures in CMBS Loans, ‘Delay and Pray’

Outlook Clouds for Brookfield's New York Office Complex: The Battery Park City Authority, the New York state government entity that holds ground leases beneath 10.7 million square feet of office space in the World Trade Center market of Manhattan, is projecting a 5% drop in net operating income next year, according to a Fitch Ratings analysis of a new bond offering in the works.