Real Estate
NYC’s Worldwide Plaza Owners Seek Deal on $940 Million Loan
- Debt on 825 Eighth Ave. was transferred to special servicing
- Office defaults have risen even as broader market stabilizes
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The owners of Manhattan’s Worldwide Plaza, including SL Green Realty Corp. and RXR, are in talks to modify a $940 million senior mortgage on the office tower after the debt was transferred to a special servicer.
The owners of 825 Eighth Ave. are delinquent on payments and have said they “will not fund operating deficits,” according to monthly commentary for the loan.