Elaine Tross, 152-154 Leroy Street and James Nelson

A new hotel project is set to spring up in the West Village, after an unidentified investor picked-up a parking lot at 152-154 Leroy Street for $10.25 million in cash, the New York Observer reported. All that is currently known about the buyer is that the person is a first-time New York City investor from the Midwest, who has built hotels elsewhere in the United States, according to Elaine Tross of Halstead Property, who represented the buyer. [more]

1414 Avenue of the Americas (creidt: PropertyShark)

Starwood Capital, led by hospitality icon Barry Sternlicht, is scheduled to face off in court against a boutique Manhattan dental practice amid allegations that the doctors are standing in the way of converting 1414 Avenue of the Americas, at West 58th Street, into a luxury hotel.

In court papers, filed June 29 in Manhattan Supreme Court, Starwood claims it served Manhattan Endodontic Group, which occupies a penthouse space in the building, with an 18-month eviction notice. That was back in January 2011, when the hospitality firm paid $72 million for the building. The dental practice is the only tenant left in the building above the ground floor. But when the practice refused to vacate their 19th floor penthouse suite overlooking Central Park, Starwood filed suit — claiming that the dentists are digging in for a potential payout. [more]