NY Times Square Still Favorite With Foreign Investors
Times Square hasn't lost its cachet with foreign investors. TSX Broadway, a $2.5 billion mixed-use project in the heart of Manhattan, has attracted more than $100 million in the past week from foreign investors who back real estate developments in return for US visas. The new capital comes after developers of the project at 1568 Broadway – which includes retail space, a hotel and an elevated stage for live events – modified their loan documents with senior lender Goldman Sachs Group Inc. to allow for an additional $250 million in EB-5 loans. The project continues to elicit excitement from investors and we are pleased to have the flexibility to raise additional capital and develop an even more dynamic and valuable property for all of our stakeholders, stated David Orowitz, managing director at L&L Holding Co.
Tags : INTERNATIONAL Real Estate development properties New York Foreign investors