Ross Leads Client in Development Ground Lease for Times Square Hotel

Law 360 (subscription required) reported that Olshan client has recently ground leased the four-story parking garage located in the Times Square district to an OTO Development affiliate. OTO secured $63.9 million in mortgage financing for the Times Square site where it plans to build a new 20-story hotel. Olshan Real Estate Law attorneys Samuel Ross and Dov Brandstatter represented the ground lessor in the ground lease to the OTO Development affiliate.