Episode Details

Worldwide Plaza in New York just got a new manager—Cushman & Wakefield is now in charge after taking over from SL Green, a move approved by court order and set to take effect by July 1. The transition comes amid a messy foreclosure battle involving massive lenders like Goldman Sachs and Deutsche Bank, who are chasing nearly $940 million in defaulted debt triggered when a major tenant vacated. Complicating matters further, mezzanine lender Extell Development is pushing for a forced sale, with appeals still pending. Occupancy numbers are disputed too: SL Green claims over 60% full, while the receiver reports closer to 51%, and another tenant is poised to leave—with eviction proceedings looming for retail spaces. Ownership remains chaotic, but at least operations are now under fresh leadership.

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