Pacific Oak Listed 110 William Street for Sale
The REIT is liquidating its office portfolio to satisfy debt obligations following a major restructuring.
Updated on Oct. 1, 2026 in Commercial
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Pacific Oak Strategic Opportunity REIT has placed the office building at 110 William Street in New York City on the market. The move is part of an ongoing liquidation process required after the REIT entered maturity default on its debt.
Why it matters
The sale follows a mandatory asset-disposal schedule imposed after the REIT defaulted on $329.3 million in combined senior and mezzanine loans. This liquidation reflects a broader shift as the firm winds down operations under new oversight.
The 1 million-square-foot office tower currently maintains a 93 percent lease occupancy rate. The REIT is targeting a sale price of approximately $400 million for the property.
The players
Pacific Oak Strategic Opportunity REIT
A real estate investment trust that was launched in 2009 and is currently undergoing a mandatory liquidation process.
Bradley Scher
A restructuring specialist who was appointed in June 2026 to oversee the wind-down of the REIT.
Newmark
A commercial real estate services firm tasked with overseeing the sale process for the 110 William Street property.
Savanna
A private equity firm that previously held ownership of the 110 William Street office tower.
The details
Newmark is managing the sales process for the Financial District building as part of the REIT's mandated wind-down. The property was previously acquired by Savanna for $261 million in 2014 before Pacific Oak purchased the remaining 40 percent stake in 2023.
Timeline
Savanna purchased the tower for $261 million in 2014.
Pacific Oak acquired Savanna's 40 percent stake in 2023.
Executives Keith Hall and Peter McMillan were removed in January 2026.
The REIT disclosed loan defaults and appointed Bradley Scher in June 2026.
Culture Shift
The liquidation of 110 William Street follows the pattern set by the post-2023 commercial office debt restructuring cycle. This move highlights how even high-occupancy office assets are being offloaded to satisfy creditor demands in the current market environment.
The sale of this major Financial District office building could lead to shifts in property management or long-term lease arrangements for current tenants. Local businesses may see changes in traffic or building utility as ownership transfers to a new entity.
The takeaway
Large commercial real estate liquidations highlight the ongoing pressure on office towers to meet debt maturity deadlines in a tight credit environment. Investors and tenants should monitor property transitions as forced sales become a primary tool for debt restructuring.
Further reading
For more on the local property market, visit Commercial.
Source note: This article includes information reported by The Real Deal New York.
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