Another landmark property is being pushed onto the sales market —and this one could go for a song.
The Brill Building — once home to legendary singers and songwriters like Carole King and Gerry Goffin — is being pushed by an entity known as Brill Holdco LLC, which is foreclosing on loans at 1619 Broadway and will sell them during a UCC foreclosure on March 14. JLL is running the marketing and declined to comment.
Sources said the owners and senior lenders are trying to clean up the multiple junior- and senior-level loans in an effort to refinance more than $200 million in loans on the Brill.
The 11-story property in the north end of Times Square has everything going for it — a location getting hotter by the minute and a sophisticated ownership that has spent millions on Landmarks-approved renovations that include large LED signage.
Owners Bruce Brickman’s Brickman Associates and Allied Partners along with Merchants Hospitality paid $185.5 million in 2013. They tried to sell it two years ago and last year brought in a group of minority shareholders who had contracted to own it for $300 million but could not obtain financing.
All parties, including the lenders, declined to comment or didn’t return calls.
