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$743 million loan tied to SL Green's 1515 Broadway is at risk of default due to imminent maturity. According to Morningstar, the loan comes due next March and refinancing would likely result in a higher interest rate, currently below 4%. An SL Green spokesperson claims the loan is performing well, with the company "finalizing an extension on the maturity date." The building is fully leased and revenue comfortably covers debt service.

    However, Paramount's lease, which accounts for almost all of the space, may pose a challenge. The company announced layoffs in August that could impact its ability to meet long-term obligations. SL Green's plans to convert 1515 Broadway into a Caesar's Palace casino have also raised uncertainty about the building's future use. The state is expected to announce winners for casino licenses by the end of 2025, and SL Green's bid is one of several competing proposals.