Istithmar World, a unit of Dubai World, has handed over a prime New York residential building to Danske Bank after failing to pay its mortgage, a UAE daily reported on Wednesday, the loss of its second property in Manhattan since December. Istithmar, whose parent company is looking to restructure $22 billion in debt, bought the building, formerly known as the Knickerbocker Hotel, in New York's Times Square for $300 million in , during the firm's heyday when it was on the acquisition trail, Reuters reported ."We have hired Jones Lang LaSalle to market the property.