You are not logged in

New York Magazine

Skip to content, or skip to search.

Skip to content, or skip to search.

Vikram Chatwal, Mortgage-Crisis Victim

  • 5/27/09 at 10:41 AM
Vikram Chatwal, Mortgage-Crisis Victim

Photo: Patrick McMullan

It seems the mortgage crisis might be claiming another victim: Vikram Chatwal, everyone's favorite turban-wearing bon vivant. The subsidiary of Credit Suisse that underwrote his Dream Hotel's $100 million mortgage recently collapsed, and subsequently turned the loan over to another lender for "special servicing," the Post reports today. In addition, according to records, the lender has also signed a non-disturbance clause with the Regency Broadway Restaurant next door, "so it won't be 'disturbed' if the building goes into foreclosure." Just in case! Incidentally, rooms at the Dream Hotel were recently going for around $113 a night, down from $250 in 2006. [NYP, Hotel Chatter]

Share
Advertising
Senior Editors
Chris Rovzar and Jessica Pressler
Managing Editor
Jessica Coen
Articles Editor
Nick Catucci
Assistant Editor
Dan Amira
Win $25K!

Recent News

Most Commented