The $743 million loan tied to SL Green’s 1515 Broadway — the site of the office landlord’s casino bid — landed in special servicing late last month for imminent maturity default, according to a report from Morningstar.
The loan comes due next March and a refinance would likely saddle SL Green with a higher interest rate. The sponsor is currently paying less than 4 percent interest, according to Morningstar.
An SL Green spokesperson said the loan is performing and the firm is “finalizing an extension on the maturity date.”
“1515 is a premier asset located directly in the center of the Times Square bowtie with substantial cash flow to meet all obligations,” the spokesperson said, noting the building is fully leased.
