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A look at some of the strategies commercial real estate lenders used during the pandemic, including deed-in-lieus and UCC foreclosures.

A look at some of the strategies commercial real estate lenders used during the pandemic, including deed-in-lieus and UCC foreclosures.

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Share via Shortlink A photo illustration of the Belnord at 225 West 86th Street and HFZ CEO Ziel Feldman (Getty; iStock/Illustration by Kevin Rebong for The Real Deal) On its website, HFZ Capital Group touted plans to usher the historic Belnord rental building on the Upper West Side “into a grand new era.” But the developer’s descent into its own new era — one defined by huge debt, scores of lawsuits and the loss of several properties — means the Belnord condo conversion will go ahead with HFZ effectively benched. A spokesperson for Westbrook Partners, HFZ’s partner on the...

Once considered a big draw, small urban condos became a tougher sell this year as city dwellers fled to the suburbs. Cities like Westchester and the Hamptons saw renewed interest as buyers looked for bigger homes, amenities such as pools and gyms, and lots of space for the same price as a swanky Midtown condo. To lure in city buyers, New York’s developers have been racing to outdo each other, offering everything from major price cuts to lavish gifts including cars and custom-designed office space. Below, some of the biggest gifts and incentives New York City developers are offering buyers a...