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New York & Tri-State  + Midtown New York  + Office  |  November 20, 2024
Paul Bubny
By: Paul Bubny

SL Green Extends Maturity on $743M 1515 Broadway Mortgage

SL Green Realty Corp. has closed on a modification and extension of its $742.8-million mortgage on 1515 Broadway in Midtown Manhattan. The modification extended the maturity date by three years to March 2028, with the interest rate maintained at 3.93%.

“This is another successful step in executing our plan to extend our debt maturity profile and reflects the strength of the Midtown Manhattan office market,” said Brett Herschenfeld, EVP for retail and opportunistic investments at SL Green. “This extension provides SL Green and our partners with the time and flexibility needed for our pursuit of Caesars Palace Times Square, bringing world-class entertainment to its most logical location in the heart of Times Square, the world’s greatest entertainment district.”

Located between 44th and 45th streets. 1515 Broadway is fully leased to Viacom and is home to the Minskoff Theatre. SL Green, Caesars Entertainment and Roc Nation have partnered on a proposal to convert the building in a bid to win one of three gaming licenses expected to be awarded in downstate New York in 2025.

Read More News Stories About: SL Green Realty Corp
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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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