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New York

Ty Warner nixes $900M Four Seasons offer

Ty Warner and Four Seasons Hotel New York
Ty Warner and Four Seasons Hotel New York

Following an unsolicited $900 million offer for the Four Seasons Hotel New York from an unidentified Asian investor, billionaire Beanie Baby broker Ty Warner has rejected the deal, Bloomberg News reported. Warner purchased the 368-room hotel, located at 57 East 57th Street, for $275 million in 1999. If Warner had accepted the offer  — equivalent to about $2.4 million per room — it would have been one of the priciest hotel sales ever in Manhattan.

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“Due to the continued strength in the New York real estate market and impending fiscal cliff, [Warner] does not feel that this is an advantageous time to sell this iconic property,” Donna Snopek, CFO of Ty Warner Hotels and Resorts, said today in a statement.

Rates at the Four Seasons start at $995 a night, according to the hotel’s website.  [Bloomberg] —Christopher Cameron

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Fiscal CliffFour Seasons