Alchemy Real Estate Advisors, in conjunction with RealINSIGHT Marketplace, is pleased to offer for sale a loan secured by a first mortgage encumbering the 86-room Truss Hotel Times Square (formerly Cassa Times Square), along with a structured parking garage and a commercial unit leased to a restaurant. This loan, which has been transferred to special servicing in May 2020 for imminent monetary default, presents a unique opportunity to acquire a distressed asset with significant upside potential. https://rimarketplace.com/auction/2352/34-million-npl-nyc-hotel-summary-judgement The property and loan collateral consist of the fee interest in three condominium units, which include: The 86-room hotel, A structured parking garage, A 11,619 sq. ft. commercial unit housing a restaurant with multiple kitchens, a pool hall, and storage spaces. In March 2022, a receiver was appointed to manage the property, and a motion for summary judgment was approved in April 2024, providing an expedited path to title for the loan purchaser. This offers a clear pathway to taking control of the asset and unlocking its full potential. Located on the west side of Midtown Manhattan, this property benefits from a prime location in the heart of Times Square, one of the most iconic and globally recognized destinations. The hotel is within walking distance of key demand generators, including Penn Station, the Port Authority Bus Terminal, Madison Square Garden, Hudson Yards, and the Jacob Javits Convention Center—all critical drivers of leisure and corporate demand. Times Square attracts over 50 million visitors annually, cementing its status as the "Crossroads of the World." Nearby, Hudson Yards, a $25 billion, 28-acre mixed-use development, is transforming the city’s skyline and includes over 26 million square feet of Class A office space, 1 million square feet of retail, and 20,000 housing units, making it New York City’s largest private real estate development. The Port Authority Bus Terminal, the world’s busiest bus terminal, sees more than 65 million travelers annually, while the nearby Lincoln Tunnel is set to undergo a historic $16 billion infrastructure investment, including the largest federal grant in U.S. history—$7 billion. Additionally, the Jacob K. Javits Convention Center has recently completed a $1.5 billion expansion, further solidifying the area as a hub for international business and tourism. With an expected 67 million visitors to New York City in 2025, surpassing pre-pandemic records, this is an optimal time to invest in one of the most dynamic and thriving cities in the world.