For the second time in a year, APF Properties lost its grip on a Midtown property enveloped in foreclosure proceedings. The prewar 25 West 45th Street office building sold to its lender, Wells Fargo, at a foreclosure auction on Wednesday, Crain’s reported. The bank bought the 200,000-square-foot property for $45.1 million, or approximately $225 per square foot. APF had been in danger of losing the property for months. The special servicer on the CMBS debt tied to the office filed to foreclose in May 2024, shortly after a $70 million default by the landlord. An attorney for Wells Fargo did […]

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