David Iannarone Of CWCapital Asset Management Sells Note Loan For $18.36M In Manhattan

The asset involved in this transaction is a note/loan related to the 86-room Cassa Times Square hotel located at 515 Ninth Avenue in Manhattan. The transaction was executed for a sale price of $18,360,000, representing a significant loss on the original balance of the loan.

Summary of transaction details:

• Property Type: Note / Loan
• Transaction Amount: $18,360,000
• Seller: David Iannarone - CWCapital Asset Management
• Date of Sale: 06/18/2025
• Market: Manhattan
• Original Loan Amount: $34,200,000
• Loss Amount: $33,470,000
• Percentage of Loss: 97.87%
• Trust: WFCM 2016-NXS6

Key individuals in this transaction include David Iannarone, representing CWCapital Asset Management as the seller. The transaction reflects a significant financial impact on the WFCM 2016-NXS6 trust due to the loss incurred from the sale.