1552-1560 Broadway

JLL has been retained on an exclusive basis to arrange for the sale of a $193.1M non-performing loan (the “Loan”) secured by a first-lien mortgage on the borrower’s interest in 1552-1560 Broadway (the “Property” / the “Offering”), which is comprised of three components: the borrower’s fee simple interest in 1552 Broadway – a 3-story, ~9,700 gross SF retail building, the borrower’s leasehold interest in 1560 Broadway - ~55,500 gross SF of ground leased retail space spanning floors 1-3 plus basement of 1560 Broadway, and control of an 8,475 SF wrap-around LED sign (seven displays) on the Broadway-facing façade and above the roof of 1552 Broadway, all of which are located on the northwest corner of Broadway and West 46th Street in the heart of the Times Square Bowtie. The 1552 and 1560 buildings/retail spaces were interconnected pursuant to the 2011 ground lease for the leasehold interest in the 1560 Broadway space. The Property represents a generational opportunity to control one of the best retail corners and signage opportunities in “the Crossroads of the World”.