A Natixis-led lenders group won control of 20 Times Square in a Jan. 26 public foreclosure auction when outside bidders failed to top their offer, Realty Check has learned. The brightly lit, 42-story tower at Seventh Avenue and West 47th Street is home to the marquee-name Times Square Edition Hotel.
“This outcome is not surprising,” a source familiar with the situation said. Title to the skyscraper is expected to transfer within a few weeks.
Mark Siffrin’s Maefield Development defaulted on the $800 million leasehold debt in late 2019. The property has been tangled in litigation ever since over that obligation and other loans and
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