Worldwide Plaza for sale

Worldwide Plaza, the last piece of Macklowe Properties’ portfolio, is for sale. The lender in control of the 1.7 million-square-foot building, Deutsche Bank, wants to retain
an ownership stake, but is also prepared to write down the current
$1.02 billion in outstanding principal to an $800 million mortgage. The buyer of the building at 825 Eighth Avenue, at 50th Street, is expected to contribute $200 million in equity, and the deal would be valued between $300 and $350 per foot. The leading potential buyer, according to the Post, is George Comfort & Sons. According to CoStar Group, 639,540 square feet is available in the building.