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701 Seventh Avenue’s 18,000-Square Foot LED Screen Goes Live, Times Square

http://newyorkyimby.com/wp-content/u...ue-777x733.png

Quote:

Last week, YIMBY reported that testing had begun on 701 Seventh Avenue’s enormous new billboard. Now, it has been activated in full, as photographed yesterday by mchlanglo793. The 18,000 square-foot LED screen is the largest in Times Square, and will soon be joined by a 17,000 square-foot screen immediately across the street, at 1568 Broadway, site of the former Doubletree Hotel. As for 701 Seventh Avenue, aka the Marriott Edition Times Square, the exterior is almost fully glassed, and opening is a few months out.

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NYY

I was checking it out on the Times Square webcam. Looks real cool for sure.

delete photo not working

Natixis providing $1B-plus to finance Maefield’s 20 Times Sq. deal

Quote:

Mark Siffin’s Maefield Development is set to close on the massive buyout of its partners in the hotel-and-retail project known as 20 Times Square, The Real Deal has learned. The deal values the property at $1.53 billion.

French bank Natixis is set to provide north of $1 billion in acquisition financing for the property, which has the street address of 701 Seventh Avenue, said sources familiar with the deal. Maefield signed a contract in February to buy out a large group of partners including Steve Witkoff, Michael Ashner’s Winthrop Realty Trust, Howard Lorber’s New Valley and the Carlton Group’s Howard Michaels, as TRD first reported.

Sources said the deal is expected to close by Tuesday at the latest. The exact size of the acquisition loan is not immediately clear, but sources pegged it over $1 billion.

The complex is slated to hold a 39-story tower containing a 452-key Marriott Edition hotel, 76,000 square feet of retail and a 17,000-square-foot LED billboard sign, and the development is almost complete. The NFL Experience and Hershey’s Chocolate World stores have already opened, while the hotel is expected to be ready this summer.

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TRD

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