Buckingham Hotel to close for renovations

New York /
Feb.February 02, 2011 10:18 AM

The new owners of the Buckingham Hotel are closing down the storied, 100-room property at 101 West 57th Street at the end of the month for a major, two-year-long renovation project, Crain’s reported. All 33 employees will be laid off. As The Real Deal first reported,
the hotel, which has housed cultural icons including tenor Giovanni Martinelli and painter Georgia O’Keefe in its 82-year history, changed hands in July when a partnership including Equinox founder Danny Errico sold it for $60 million to Hartford, Conn.-based UBS Realty Investors. Current hotel manager Lisa Grossberg wouldn’t delve into any details on the renovation, except to say that the Buckingham would eventually reopen as a hotel. “It’s obvious that the [current owner] is going upscale,” speculated Tom McConnell, senior managing director of Cushman & Wakefield Sonnenblick Goldman, who was marketing the hotel on Errico’s behalf last summer. “I’m sure they’ll turn it in a four-star hotel.” [Crain’s]


Related Articles

arrow_forward_ios
News of President-elect Biden’s $1.9T stimulus plan held promise for employment and economic activity. (Getty)
Real estate stocks hold gains even as market doesn’t
Real estate stocks hold gains even as market doesn’t
Cushman & Wakefield CEO Brett White, Mayor Bill de Blasio, and Donald Trump, Eric Trump and Donald Trump Jr. (Getty)
Cushman & Wakefield, NYC cut ties to Trump Organization
Cushman & Wakefield, NYC cut ties to Trump Organization
Damien Dwin of Lafayette Square Holding (Photos via Lafayette; iStock)
Sustainable housing is focus of Damien Dwin’s social justice effort
Sustainable housing is focus of Damien Dwin’s social justice effort
Photo illustration of Aliz Hotel at 310 West 40th Street (Google Maps)
From lender with love: Bond-themed hotel sued for $40M
From lender with love: Bond-themed hotel sued for $40M
Chelsea Hotel with Ira Drukier and Richard Born (Getty)
Chelsea Hotel reno can resume after housing department drops fight
Chelsea Hotel reno can resume after housing department drops fight
325 West 33rd Street and Magna Hospitality CEO Robert Indeglia (Google Maps; Magna Hospitality)
Wells Fargo sells Penn Plaza hotel leasehold mortgage for $51M
Wells Fargo sells Penn Plaza hotel leasehold mortgage for $51M
Hilton Hotel in Times Square (Google Maps)
Hilton Times Square owner: “Take my hotel, please”
Hilton Times Square owner: “Take my hotel, please”
Cushman & Wakefield's Toby Dodd with One Pierrepont Plaza in Brooklyn and One World Trade Center (Photos via Cushman, Brookfield and Pixabay)
Cushman to consolidate its Lower Manhattan and Brooklyn offices
Cushman to consolidate its Lower Manhattan and Brooklyn offices
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...