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.
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