A San Jose office building has tumbled into default on a loan, a fresh sign of economic woes in some sectors of Bay Area real estate.
SAN JOSE — A San Jose office building has tumbled into default on a loan, a disquieting indicator that post-coronavirus economic gremlins still haunt the Bay Area real estate market.
The original loan that’s in default totals $16.3 million, according to the public real estate documents. In August 2022, a notice of default was filed against the building. County records show that within the next several days, the default was rescinded, an indication that the mortgage payments were back on track.
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