TSX Broadway Sees The Fortress Investment Group Enter The Real Estate Sector

January 2nd, 2019 by admin

The New York real estate sector is one of the most competitive and complex in the world with many different groups entering the markets each year.

The Fortress Investment Group is entering the New York real estate sector but partnering with two groups who have a long history of success in the “Big Apple”. The estimated completion date of TSX Broadway in Times Square is 2021 and sees the first major move by Fortress owners, Softbank to build on the existing success of the brand.

Much like Softbank, Fortress Investment Group has a long history of undertaking a range of non-traditional and technology-based investments which are often ignored by their competitors. The TSX Broadway real estate development has been planned for some time and will see a major redevelopment of the Times Square area including some historic landmarks, such as the Palace Theater. The 1,700-seat theater will be preserved and restored over the course of the development with its original interior restored to its stunning glory with the aid of modern construction techniques.

Read more: Newsonomics: Softbank, Fortress, Trump – and the real story of Gatehouse’s boundless ambition

One of the most impressive aspects of the 46-story development will be the 10 floors of retail space which will be created by the $2 billion projects. Despite the project not starting construction yet, many of the world’s leading retailers are already rumored to be interested in occupying the space created by the Fortress Investment Group in Times Square.

Alongside the floors of luxury apartments which are planned to occupy much of the development, the Fortress Investment Group plans to create a further ten floors of luxury hotel space. The development will include 30 hotel suites known as the “Drop The Ball” rooms with views overlooking the annual New Year’s Eve event in New York City. TSX Broadway will allow the Fortress Investment Group to add another string to its bow of successful investments made in a range of different industrial and retail sectors.

Check more about Fortress Investment Group: https://www.bizjournals.com/newyork/cotm/detail/309/Fortress-Investment-Group

Posted in Financial Institution, Investment Firm

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