SL Green nearing resolution with TIAA, Norges in $50M dispute
SL Green is close to ending one fight at 2 Herald Square, though a broader battle appears to remain. Marc Holliday’s real estate investment trust reached a framework for a settlement agreement with TIAA and Norges Bank revolving around a financial dispute, Crain’s reported. Terms of that settlement agreement were not disclosed. The issue started as a simple retail dispute. SL Green sued Victoria’s Secret after the latter closed its store at the building during the pandemic, alleging the lingerie retailer fell well behind on rent. A judge ultimately awarded SL Green $50 million, triple the amount of back rent. […]
This article originally appeared on The Real Deal. Click here to read the full story.
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