Fortress Investment Group has joined forces with Maefiled Development to remake Times Square. Fortress Investment Group recently purchased 20 Times Square. The investment company has also partnered with Ian Schrager, Winthrop Realty Trust, Ian Schrager and Howard Lorber’s New Valley to recreate this property into a luxury traveler’s paradise. The value at the property came in right over one billion, one hundred million dollars.
New York City is home to Times Square. It is an iconic destination to travelers and visitors from the entire world. Times Square beholds a place for events to he held, historic locations and retail. 20 Times Square will attract a crowd looking to handle both business and enjoy the pleasures that the Square holds. This venue will be five thousand square feet of luxury pleasure. Four levels will consist of event space, performance space, and views of the breath-taking New York City skyline. Other amenities include a fitness studio, meeting areas, dining areas and a beer garden.
Fortress Investment Group is responsible for the two hotels that are under renovation. These hotels will cover seventy six thousand square feet. Retail space will be ample and be a main factor that will attract tourists. The National Football League is looking to have twenty five thousand square feet of commercial space for a retail store. Neighborhood business will be booming with the influx of new travelers. Hotel reservations are already being made for the grand opening of the Marriot and the DoubleTree.
Fortress Investment Group tends to acquire businesses that relate to infrastructure. Acquiring a massive property like 20 Times Square is no surprise for this investment firm. The firm has existed for twenty years. For the past twenty years, it has dominated the way asset management is done. Today, the company still leads investors to great heights with its talented investment strategists. The company works to create personalized solutions for investors looking to increase their investment portfolio. 20 Times Square will be a spectacular property with dining, retail and lodging that will only add to the forty billion dollar asset number Fortress Investment Group already manages.