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Old 09-14-2012, 07:23 AM
 
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Soffer Organization defaults on three core SouthSide Works properties - Pittsburgh Business Times

Quote:
Real estate development company Soffer Organization has defaulted on the loans for three of its core properties at the SouthSide Works, the 34-acre mixed-use redevelopment it built on a former brownfield site on the city’s South Side, according to a report provided by special servicer C-III Asset Management that is required as a monthly update on the status of the loan.

A debt balance of $49.6 million is still owed on the properties that constitute most of Soffer’s SouthSide Works holdings that front on Carson Street, the special servicer’s report said.

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Old 09-14-2012, 07:47 AM
 
Location: Pittsburgh
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whoopsies. SouthSide Works was kind of hard to **** up, but Soffer somehow managed to do it.
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Old 09-14-2012, 08:25 AM
 
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Quote:
Originally Posted by AaronPGH View Post
whoopsies. SouthSide Works was kind of hard to **** up, but Soffer somehow managed to do it.
Indeed, what a joke. Some of those places fronting carson street have no excuse being empty. They are prime, modern retail spaces with easily one of the best locations for foot traffic in the city.

However, when Aldis and the Brix on Carson Apartments are finished this will increase foot traffic even more in the immediate area and should help Soffer fill those spaces.
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