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From left: The Grace Building, 250 West 57th Street, 32-42 Broadway, and One Union Square South (Photos via Wikipedia Commons, ESRT, Google Maps, and StreetEasy)
The 10 largest Manhattan loans recorded in November totaled $2.12 billion, a 16 percent increase from October’s total.
More than half of that sum came from a single massive loan: a $1.25 billion refinancing of the 49-story Grace Building north of Bryant Park, which came in the form of a single-asset/single-borrower commercial mortgage-backed security transaction.
The market for such SASB CMBS deals has lately benefited from “pullback by competing insurers and banks that often lend to trophy properties and high quality portfolios,” according to a recent Kroll report on the CMBS market. October’s second-largest loan and September’s largest loan were also SASB deals.
Consumer Protection Body Asks FSSAI to Take Action Against Adulteration Reported in Honey Brands
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The Central Consumer Protection Authority (CCPA) has asked food regulator FSSAI to take appropriate action against adulteration reported in certain honey brands and also extended cooperation for investigation for taking class action.
Last week, environment watchdog CSE claimed that honey sold by several major brands in India has been found to be adulterated with sugar syrup. However, the companies have refuted the claims.
In an official statement, the consumer affairs ministry expressed concern over the reported adulteration of honey. It has been reported to the Department that most of the honey brands sold in the market are adulterated with sugar syrup. This is a serious matter as it will compromise our health in the troubled times of COVID-19 and add to the risk of COVID-19, the ministry said.