Three of New York’s biggest real estate players are locked in a legal fight over a UCC sale tied to Worldwide Plaza. Owners SL Green and RXR are asking a New York judge to stop what they call a “sham auction” by an entity tied to Gary Barnett’s Extell Development that aims to wrest control of the debt on the 1.8-million-square-foot office tower at 825 Eighth Avenue. In a lawsuit filed Wednesday in Manhattan Supreme Court, the landlords accused Barnett of engineering a rigged UCC foreclosure to seize control of the ongoing restructuring of the $940 million CMBS senior mortgage […]
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