Foreclosure sends posh Times Square Edition to auction

A luxury hotel in New York City’s Times Square, once valued at more than $2 billion, will be offered at auction after a state judge’s declaration of foreclosure and sale. The 42-story Times Square Edition, a Marriott International creation designed by the noted Ian Schrager, has been fought over since 2019 by owner Maefield Development and a group of lenders headed by Natixis SA.