Senior lenders move to foreclose on Worldwide Plaza
The senior lenders behind Worldwide Plaza filed a foreclosure lawsuit, adding another layer to the high-stakes legal fight over the Midtown office tower. Goldman Sachs, Deutsche Bank and a trustee for the CMBS bondholders allege that owners SL Green and RXR defaulted on $940 million in senior debt tied to 825 Eighth Avenue, according to a complaint filed on Feb. 21 in New York Supreme Court. The lenders are asking the court to appoint a temporary receiver to manage the 1.8 million-square-foot property and to authorize a foreclosure sale, according to the lawsuit, first reported by PincusCo. The lenders are […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Milan And Lake Como: The New Power Couple Of Italian Real
Estate
The Investor Ban Is Law. It Is Not Why Wall Street Is
Selling Homes
We Can’t Just Build Homes, We Need To Start By Building
Community
Real estate’s next legislative priority: insurance
reform
AI startup Modal Labs inks 157K sf lease at Rudin’s 32 Sixth
Avenue
Jared Solomon gets 11 years for $9M Vornado fraud
Lonicera, Rabina refinance DoBro luxury multifamily
project
Why Hochul won’t be bullied by socialists on real estate
issues
50% of Recent Homebuyers Can’t Afford Their Mortgage
Democrats Win the Midterms: What It Means for the Housing
Market
