PWM Property Management LLC, the bankrupt owner of 245 Park Ave. in Manhattan, is trying to finalize an agreement in which former business partner SL Green Realty Corp. would serve as lead bidder in the skyscraper's chapter 11 sale process, MarketWatch.com reported. Terms weren't disclosed during the update provided Thursday in the U.S. Bankruptcy Court in Wilmington, Del. But earlier this year Chinese conglomerate HNA Group Co., which is a backer of PWM Property Management, was told in an arbitration proceeding that it must pay SL Green roughly $185 million in a dispute over the real estate. Besides managing the building, SL Green also invested $148 million in the property.
