ExecuStay making Manhattan its home.ExecuStay, the corporate housing services division of Marriott International Marriott International, Inc. (NYSE: MAR) is a worldwide operator and franchisor of a range of value and luxury hotels and related lodging facilities. Marriott currently has 2,300 accommodation properties in North America alone. , Inc., announced that it has secured a 15-year lease for The Chelsea, at 1160 W. 24th St. in Manhattan, and is now leasing the building's units as temporary corporate apartments. The 18-story, 204-unit apartment building was recently sold to The Chelsea. LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Townhouse town·house or town house n. 1. A residence in a city. 2. A row house, especially a fashionable one. Management Company for approximately $72 million. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Gary Abrahams, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ExecuStay by Marriott, The Chelsea includes 17 studios, 147 one-bedrooms, and 40 two-bedrooms and features a doorman, concierge service, a business center, and a fitness center. The building is currently managed by Townhouse Management. The company also announced that a new, 30-story residential building now under construction at 554-556 Third Ave. at 37th St. will open in late 2002 as a dedicated ExecuStay corporate apartment community. ExecuStay will provide 126 studio and one-bedroom corporate apartments in the new 144-unit building through a 15-year lease agreement with Pine Equity NY and Townhouse Management. The remaining 18 units -- two-bedroom condominiums -- will be marketed for sale by the owners. Building services will include a doorman, a concierge desk, a business center, and a fitness center. Abrahams said that, while the Manhattan project Manhattan Project, the wartime effort to design and build the first nuclear weapons (atomic bombs). With the discovery of fission in 1939, it became clear to scientists that certain radioactive materials could be used to make a bomb of unprecented power. U.S. represents the first ground-up building for ExecuStay, the company had begun consolidating in other high-density markets, such as Chicago, Philadelphia, and Washington, D.C., and that it would continue looking at similar opportunities. Both buildings, owned through a joint venture of Pine Equity NY and Townhouse Management, reinforce ExecuStay's recently announced strategy of consolidating inventory in centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. , high-demand markets, such as New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Chicago, Philadelphia and Washington, D.C. Gary Abrahams, president and CEO of ExecuStay by Marriott, said, "ExecuStay typically provides corporate apartments through long-term lease agreements with existing residential communities, allowing travelers to be where they need to be in any given market. In high-density, centralized urban markets such as Manhattan, however, consolidation makes sense for the traveler and for us." In commenting on the Chelsea building Abrahams said, "ExecuStay's presence in the Chelsea district is a bonus for long-term business travelers -- and others needing temporary lodging -- who want to be in one of city's most desirable areas during their extended New York stays. With its great restaurants and shopping, Chelsea is now one of the hottest neighborhoods in Man- |
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