A $36 million construction loan was provided to convert the building into a hotel. The planned Courtyard Marriott will include 167 rooms, a rooftop bar and retail, and should be completed by October 2012. Hotel building.
The vacant lot sold for $27.9 million, or $182 per square foot. The partners plan to spend an additional $70 million to develop a 28-floor, 300-room hotel on the site, which is slated to open in early 2015.
The laser and electrolysis hair removal company and day spa signed a five-year lease renewal. It has been a tenant in the building for more than 19 years. The reported asking rent was $100 per square foot.
The eatery chain signed a 21-year net lease for the entire five-story building, which will house a Café Europa. The reported aggregate rent was $13 million. This will be the company's 33rd Manhattan location.