Trenton Multifamily Owners Default on $45M Loan, Foreclosure Proceedings Begin on 3 High-Rises
Key Takeaways: Trenton faces significant real estate uncertainty as multifamily owners default on a major $45M loan. Tightening credit and rising interest rates are creating challenging conditions for both investors and local residents. The threat of neighborhood blight increases as foreclosure proceedings move forward on key high-rise properties. Warning Signs Grow for Trenton's Housing Market This urgent foreclosure shatters confidence across The Bridge City, alerting investors to tightening credit, lethal interest rates, and plunging property values . Locals fear rapid decline along the Delaware River edge, as lenders slam shut doors and blight risks surge. Foreclosure Crisis Hits Trenton’s Multifamily Market A wave of uncertainty descends upon Trenton as a staggering $45 million multifamily loan, secured by three local high-rise properties near the State House , defaults and enters foreclosure . The shock ripples through Trenton’s core, casting a harsh spotlight on the real es...