19
Sep
Word on the Street.
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Two hotel conversions in New York City, one of a university dormitory and the other of an office building, were reported over the past two weeks. Crain’s New York Business reported on Thursday that a consortium comprised of Highgate Hotels, Irving, Texas, Crown Acquisitions, New York City and The Carlyle Group, Washington, D.C. purchased an office building at 170 Broadway for approximately US$100 million to US$150 million from AMG Realty Partners, a subsidiary of GE Capital, according to sources familiar with the purchase.
In Greenwich Village, the historic Marlton House building, which served as a single room occupancy hotel for much of its existence since it was built in 1900 and housed Beat Generation literary luminaries such as Jack Kerouac, is being converted back into a hotel. Since 1987 it has served as a dormitory for The New School.
The New York Post reported on Sept. 8 that conceptual hotel designers Sean MacPherson and Richard Born have signed a long-term lease to manage the property, which will be converted into a lifestyle hotel. MacPherson and Born created the unique The Jane Hotel, The Maritime Hotel and The Bowery Hotel, all located in New York City. Not to mention, we heard rumblings of an Andre Balasz takeover of Cooper Square Hote… let the games begin. (Source: Nathan Greenhalgh)



This November, 





