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Korean lenders take over Manhattan office tower through foreclosure auction

Owner RFR said to have defaulted twice on debt
RFR Realty has ceded control of 285 Madison Ave. in Manhattan to Korean lenders through a foreclosure auction. (CoStar)
RFR Realty has ceded control of 285 Madison Ave. in Manhattan to Korean lenders through a foreclosure auction. (CoStar)
CoStar News
April 21, 2025 | 9:29 P.M.

A group of Korean investors has taken over a Manhattan office tower a block from Grand Central Terminal through a foreclosure auction.

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