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Reade Chambers Foreclosure Crisis | Real Estate News
Reade Chambers in Tribeca is facing foreclosure as lenders move to seize two storefronts tied to a luxury condo project plagued by financial trouble. The $7.5 million loan went delinquent in November, and a separate $44 million loan for a Murray Hill rental building also defaulted. One storefront has been leased by CityMD for 15 years, while the other has seen short-lived nail salons. The development, launched in 2014, was built on land that once saw a fatal building collapse in 2009. With no public comment from the developers, the situation remains unresolved as Wilmington Trust pushes…
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