SL Green secured a three-year extension on its $742.8 m loan for 1515 Broadway, now maturing in March 2028 with a 3.93% interest rate. The Midtown Manhattan office tower, featuring the Minskoff Theater, remains financially stable, with revenue covering debt service despite layoffs by anchor tenant Paramount. The extension avoids refinancing at higher rates and supports SL Green’s $4 billion plan to redevelop the site into a Caesar’s Palace casino, in partnership with Caesars and Jay-Z’s Roc Nation. The project competes for one of New York’s three downstate gaming licenses in a crowded bidding field.
SL Green
