Hakimian changes Midtown hotel plans to residential
“When events change, I change my mind. What do you do?” Nobel-winning economist Paul Samuelson famously said. The Hakimian...
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Hakimian sells hotel at 75 Wall Street
The Hakimian Organization is checking out of the hotel at 75 Wall Street. The group has sold the hotel portion, titled Andaz Wall Street, of the building to Navika Capital Group for nearly $85...
National Weekend Edition
Mandarin Oriental NY majority stake sells for $98M
Indian conglomerate Reliance Industries has purchased a majority stake in the Mandarin Oriental Hotel at Columbus Circle for nearly...
Midtown DoubleTree sells at staggering loss
In the wake of the pandemic, New York City hotels have seen their fair share of massive discounts — and a newly recorded sale is no exception. Beverly Hills-based Hawkins Way Capital purchased the...
As Brack Capital shutters in NY, former CEO bets on Tribeca
From one investment firm’s ashes, a new landlord has risen with a bullish outlook on New York multifamily and...
Shuttered Excelsior Hotel sold for $80M
The pandemic may have closed the Excelsior Hotel, but the Upper West Side establishment may soon take on a new life. John Young’s Emmut Properties picked up the shuttered property at 45 West 81st...
NYC hotel property taxes skyrocketed to 30% of revenue: report
New York City hotels have long been haunted by steep property taxes, but yet another increase has made the...
New York City hotel occupancy hit pandemic record, but new cases loom
New York City hotels marked a peak in occupancy in early December, but the industry’s rebound was reported under...
Manhattan Borough Board approves Radson’s slaughterhouse towers
A former Hell’s Kitchen slaughterhouse site is on its way to a transformation. The Manhattan Borough Board approved a...
Law will require Airbnbs to register with the city
UPDATED Dec. 9, 2021, 5:43 p.m.: It may be lights out for homes listed on Airbnb and other rental...