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Times Square Edition hotel moves step closer to foreclosure sale


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A foreclosure ruling typically allows a lender to immediately proceed with the sale of a property in order to recoup their investment. New York State Supreme Court Justice Joel M. Cohen scheduled a status conference between the parties for March 23 to decide to how to proceed, according to court documents.
Representatives for Natixis and Marriott declined to comment. Maefield didn’t immediately respond to request for comment.
A foreclosure sale would complete a startling reversal for a property viewed as a marquee development in Times Square. A 2018 appraisal valued the property at $2.4 billion, and a 2019 party to celebrate the rare opening of a luxury hotel in the neighborhood attracted a generation-spanning list of celebrities, from Kendall Jenner to Diana Ross. ....

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Judge Clears Way for Times Square Edition Hotel Foreclosure


450 West 31st Street, New York, NY 10001 Phone: 212-260-1332
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