Vikram Chatwal, Mortgage-Crisis Victim


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]