20 Times Square

Property type: Mixed Use
Business line: Real Estate Finance
Finance type: First Mortgage/Mezzanine
Location: New York, NY
Size: $407,500,000

20 Times Square
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In one of the world’s most densely trafficked locations, we helped shepherd a deal to clear out an old office block and its downscale retail along 47th and Broadway, to create a property and an experience worthy of today’s Times Square. As the deal progressed, we financed over $400 million for a new Edition hotel rising above six new floors of dynamic retail. The hotel is being designed by a joint venture between Marriott and Ian Schrager, and will include significant outdoor space overlooking the heart of Times Square. In addition an approximately 18,000 square foot LED sign will become an iconic visual element and powerful presence in the Square.