Weil’s Collapse Puts Law Firms’ $35.4B CMBS Footprint in Focus

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The article examines the financial exposure of New York’s General Motors Building to law firm Weil, Gotshal & Manges, its largest tenant, which occupies 447,075 square feet under a lease through 2034. The building’s $2.3 billion loan was securitized in 2017, and the firm accounted for 19.4 percent of its gross income, highlighting potential commercial real estate and CMBS risks if the firm’s collapse affects its tenancy.

Law firm Weil, Gotshal & Manges has been in the General Motors Building on Fifth Avenue since the tower opened in 1968. It is still the largest tenant, with 447,075 square feet leased through August 2034, and, when the building’s $2.3 billion loan was securitized in 2017, the firm paid 19.4 percent of its gross […]