SL Green’s 1515 Broadway downgraded as owner smarts from casino bid loss
SL Green’s 1515 Broadway in Times Square last year lost out in the race for casino projects, and the property has more losses in sight. Credit agency S&P Global downgraded SL Green’s property in a report this week, Crain’s reported. The landlord said it has concerns that the 57-story, 1.7 million-square-foot tower could lose its fully occupied status as its lone tenant, Paramount Global, is looking to downsize after it was sold to Skydance Media last year. The $675 million mortgage backing the building is slated to mature in two years, but S&P is already flashing warning lights about SL […]
This article originally appeared on The Real Deal. Click here to read the full story.
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