The massive LED sign that wraps around Seventh Avenue and West 47th Street — it’s roughly the size of four basketball courts — exists today thanks to a Times Square-sized construction loan. The $2 billion financing package that Natixis led for Maefield Development’s project at 20 Times Square was the largest real estate loan of 2018. But a portion of that debt package is now in default, according to Natixis, which has filed to foreclose
source https://therealdeal.com/2019/12/09/lender-forecloses-on-maefields-billion-dollar-times-square-development/
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