Lawsuit claims Fortress, L&L owe USIF $890M after TSX Broadway transfer
Nick Mastroianni’s U.S. Immigration Fund claims entities tied to Fortress Investment Group and L&L Holding Company wrongly transferred control of a 46-story tower in Times Square and are now personally on the hook for upwards of $890 million. USIF on Wednesday filed a lawsuit against various Fortress entities and L&L, claiming that the developers violated terms of a mezzanine loan agreement when they transferred control of TSX Broadway to a group of lenders led by Goldman Sachs in 2024. Under the loan agreement, the developers needed prior written consent from USIF before making such a move, according to the lawsuit. […]
This article originally appeared on The Real Deal. Click here to read the full story.
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