Lululemon’s departure from 597 Fifth Avenue could put Thor Equities in a pickle. The retailer’s impending vacancy again puts landlord Thor Equities in danger of having to hand over the property to lender SL Green Realty, according to Crain’s. Without a high-paying tenant to replace Lululemon, the property might not generate enough income to cover its mortgage payments. SL Green has a $25 million mezzanine loan and another lender has a $10 million mezzanine loan. […]
source https://therealdeal.com/2019/02/12/thor-is-in-a-very-precarious-position-at-597-fifth/
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