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After legal war, Ace Hotel co-owner sells two 432 Park pads at $60M break-even
June 08, 2018 01:00PM
An entity tied to Ace Hotel co-owner Stefanos Economou sold two units at 432 Park Avenue for $60 million, just about what he paid...
LA-based firm allegedly swindled regional center out of EB-5 spoils: suit
December 21, 2017 12:30PM
From TRD LA: A Los Angeles-based firm that specializes in deploying EB-5 capital allegedly shut an Atlanta-based regional center out of profits made from marketing...
GFI employee says Allen Gross is stiffing him on 5% stake in Ace Hotel
March 31, 2017 02:00PM
John Saric, a vice president of development at GFI Development, says company boss Allen Gross is trying to cut him out of his ownership...
Father of Ace Hotel’s founder accuses COO of fraud, extortion
October 17, 2016 04:30PM
UPDATED, Oct. 17 at 6:24 p.m.: The trendy Ace Hotel chain is back in court, and this time, the company’s president and chief operating...
Ace Hotel co-owner claims he’s being cut out of the business
August 04, 2016 09:31AM
The trendy Ace Hotel is a magnet for hipsters and celebrities — and lawsuits, it seems.
Renderings released for long-delayed Ace Hotel at 225 Bowery
March 04, 2016 10:06AM
Omnia Group and North Wind Group’s hotel conversion at 225 Bowery has seen it shares of partial work stop orders and construction problems, but...
GFI secures $50M financing for Downtown BK hotel
March 02, 2016 12:35PM
GFI Capital Resources Group secured a $50 million construction loan for a new “lifestyle hotel” it is developing in Downtown Brooklyn, property records filed with...
Legal battle over future of Ace Hotels heats up
October 30, 2015 12:35PM
The father of the late Ace Hotels founder is duking it out with his son’s former business partner in Manhattan Supreme Court over the...
Alexander Rovt planning to build two NYC hotels
May 14, 2015 08:30AM
Fertilizer billionaire Alexander Rovt wants to build two four-star hotels in New York – one in Manhattan and one in Brooklyn. The Ukrainain-born magnate...
Court battle erupts for control of the Ace Hotel chain
January 17, 2015 12:00PM
The father of the late Ace Hotel founder Alex Calderwood is battling his son’s business partner in court for a stake in the hip...
Allen Gross faces board rejection over Ace Hotel upzoning
November 13, 2014 02:15PM
A Downtown Brooklyn community board voted against developer Allen Gross’ request for a variance to make way for a 156,300-square-foot, 285-room Ace Hotel in the...
Ace Hotel getting 285 rooms in Downtown Brooklyn?
July 09, 2014 11:50AM
GB Lodging, the developer converting 5 Beekman Street into a hotel and condominiums, filed plans for a 13-story hotel in Downtown Brooklyn that is...
Ace Hotel to land on Downtown Brooklyn site
May 06, 2014 06:05PM
Ace Hotel is reportedly eyeing a new Downtown Brooklyn locale.
Bowery’s Salvation Army building sells for $30M
March 04, 2014 11:20AM
A deal for a 55,000-square-foot building at 223-225 Bowery, formerly home to the Salvation Army Chinatown Shelter, has finally closed. The property, in contract...
DLJ to rebuild Jarmulowsky building’s famed dome
January 30, 2014 04:50PM
A circular dome that once topped the Jarmulowsky building on the Lower East Side is on the rebound. The building at 54 Canal Street,...
Ace Hotel on Bowery to include 178 rooms, eatery
December 16, 2013 05:08PM
Plans for the Salvation Army shelter and community center-turned-hotel at 225 Bowery are beginning to emerge.
Alex Calderwood, founder of Ace Hotel chain, dies at 47
November 17, 2013 11:00AM
Denver born hotelier and founder of the quirky and cool Ace Hotel chain, Alex Calderwood has died at 47 in London. The cause of death...
Ace Hotel to bring “faux hostel” to 225 Bowery
September 30, 2013 01:17PM
Ace Hotel is converting a 10-story building at 225 Bowery into a hotel, despite earlier plans to turn it into apartments. The Lower East...
Following Ace’s lead, hotels take over 29th Street
April 16, 2013 04:00PM
From the April issue: Across New York City, hotels have been popping up like post-recession beacons of an improving economy. But the area around 29th...
Ace Hotel primed for Canal Street expansion
June 26, 2012 03:00PM
[Update, 5:15 p.m.: An Ace Hotel spokesperson denied that the brand was going to operate out of this space, according to the New York...
Records rollercoaster: The benchmarks that have been broken in NYC’s resi market
Real estate has found its answer to startup culture in Opportunity Zones, panel says
Real estate execs say Amazon “is great” for New York but question if the city’s infrastructure can sustain new residents
Aby Rosen nixed condo plans at this Tribeca site. Now another developer is giving it a shot
Brooklyn’s tallest tower may soon rise thanks to massive Silverstein loan
November 2018 issue
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