Long-awaited $23M Gorham Hotel sale finally closed.The long-awaited sale of the 115-room Gorham Hotel in Midtown Manhattan at 136 W. 55th Street, closed last week. The buyer, BD Hotels led by Richard Born, paid approximately $23 million for the property and now plans an extensive renovation and upgrade to bring the Gorham to four-star status. Born is involved in the ownership and management of a number of hotels in Manhattan, including the Wellington and the Chambers, as is currently involved with Robert De Niro Noun 1. Robert De Niro - United States film actor who frequently plays tough characters (born 1943) De Niro in the development of a new hotel in TriBeCa. Paul Fitzpatrick, Thomas Fitzpatrick, Thomas, c.1799–1854, American trapper, fur trader, and guide, one of the greatest of the mountain men, b. Co. Cavan, Ireland. He emigrated early to the United States, and by 1823 he was engaged in St. McConnell and Nolan Hecht of CB Richard Ellis CB Richard Ellis Group, Inc. NYSE: CBG is a multinational real estate corporation currently based in Los Angeles, California, U.S.A.. On December 20, 2006, the corporation, also known as CBRE, completed acquisition of Trammell Crow Co. in a transaction valued at $2. acted as exclusive agents for the receiver in the sale of the hotel. "The Gorham is well-located and popular with both business and leisure travelers and makes a nice addition to BD Hotels existing port folio of Manhattan Properties," commented Mr. McConnell. "The purchase confirmations the market's underlying confidence in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and industry expectations for an improving economic climate." Mr. Born who is partnering with Ira Drukier on the project, will substantially renovate the property, patterned after a classic, small English hotels. The renovation is expected to be completed by Fall 2004. Currently designed with a European ambiance am·bi·ance also am·bi·ence n. The special atmosphere or mood created by a particular environment: "The noir ambience is dominated by low-key lighting . . . , The Gotham offers rooms and suites with separate sitting rooms and serves both the corporate and leisure traveler. |
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