Brookfield Properties has seized control of the Brill Building by foreclosing on a mezzanine loan it held against the Times Square property that had slipped into default in recent months. Real estate investment firms Brickman & Associates and Allied Partners had purchased the building for $ 185.5 million in 2013, then sold a minority share to additional partners last summer in a deal that valued the property at $ 310 million but also heaped on debt, according to reports at the time.
