The Real Deal New York

Posts Tagged ‘Madison 92nd Street Equities’

  • Bids due today for Courtyard Marriott

    April 12, 2012 06:20PM

    The Courtyard Marriott on East 92nd Street (credit: PropertyShark)

    Bids to purchase the bankrupt Courtyard Marriott on 92nd Street and First Avenue are due today, Crain’s reported. If numerous bids come in, then an auction could be held next week. [more]

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  • 92nd Street Courtyard Marriott to close?

    January 13, 2012 05:30PM

    Robert Gladstone and the Courtyard Marriott

    The 226-room Courtyard Marriott on East 92nd Street may close this spring, in the wake of two years of legal battles, including a lawsuit against Marriott International, Crain’s reported. It is scheduled to lay off 59 employees by March 30, according to documents filed with the Department of Labor.

    The property, at First Avenue, has struggled to break even ever since it opened in 2006, Crain’s noted, with owner Madison 92nd Street Equities, led by Robert Gladstone, Louis Taic and Jeffrey Kosow, citing extortionate franchise fees and the turbulent economic climate. The hotel eventually filed bankruptcy protection in August. [more]