Times Square JV LLC

Times Square JV is a confirmed-plan case: the debtor’s Third Amended Plan of Reorganization was confirmed on March 21, 2023, leaving the case on a reorganization path rather than an open sale or liquidation track through the cited record. The case began on December 28, 2022, when the real estate holding company filed chapter 11 in the Southern District of New York for the 1605 Broadway mixed-use property, including the Crowne Plaza Times Square Manhattan Hotel and related office, retail, garage, and signage components, as reflected in the Chapter 11 petitionDkt. 1.

The filing followed a capital-structure dispute around the property’s prepetition debt stack. The first-day declaration identified a mortgage loan held by 1605 Broadway LLC, a mezzanine loan originally made by Deutsche Bank AG, New York Branch, alleged mechanics’ liens, and general unsecured obligations, with both the mortgage and mezzanine loans maturing on July 9, 2020; filed claims later reflected one secured claim of about $418.7 million and ten unsecured claims totaling about $2.7 million. Those capital-structure facts are sourced to the Shinder first-day declarationDkt. 5.

After the petition date, the case also generated litigation tied to control and property rights around the asset, including Clear Channel Spectacolor’s declaratory-judgment adversary proceeding against the debtor and CPTS Hotel Lessee LLC, and the debtor’s separate declaratory-judgment and turnover complaint against 1601 Enterprises Inc. concerning a lease, commencement letter, default notice, and termination notice. Those disputes appear in the and the debtor’s .