Tishman Speyer Extends $425M CMBS Loan, Injects $20M Equity

Deal Summary

Tishman Speyer avoided a default on its Long Island City office complex by extending its $425 million CMBS loan for three years and injecting $20 million of equity. The extension, subject to debt‑yield hurdles, will return to the master servicer after three months. The property’s appraisal fell to $480 million, down 44% from 2021.