The first offering of commercial mortgage bonds to hit the market post-Labor Day comes from JP Morgan Chase, which is securitizing a $900 million portion of a $1.2 billion loan on an iconic Manhattan office building at 9 West 57th Street.

The buildings’ owner, controlled by real estate developer Sheldon H. Solow, is using the loan to refinance the building, cashing out $485 million of equity in the process.

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