The North Star Universal, LLC

  Refinancing Risk in 2026: How The North Star Universal, LLC Is Rethinking Capital Strategy in NYC Commercial Real Estate This week, refinancing risk moved from a background concern to a front-page issue in NYC commercial real estate. We are seeing it reshape deal structures, asset management priorities, and exit strategies across the city. At The North Star Universal, LLC , we view refinancing risk as a strategic inflection point, not a temporary disruption. The current market is forcing owners and investors to confront assumptions made during the low-rate era. The question is no longer whether refinancing will be harder. The real question is who planned for it. Why Refinancing Risk Is the Dominant NYC CRE Issue This Week In the past seven days, market participants have reacted sharply to sustained higher interest rate guidance. Debt markets now price risk more conservatively than at any point since 2009. NYC office and mixed-use assets face the most pressure. Lenders are tighten...