Istithmar World Capital, the private equity and alternative investment arm of Istithmar World, part of Dubai World, a Dubai government-owned company (phew) has defaulted on their $300 million mortgage for the former Knickerbocker Hotel building in Times Square.
For more, we go to the Wall Street Journal: “Dubai World Coughs Up the Knickerbocker.”
Tags: Dubai, Times Square, Wall Street Journal