The Ackman-Ziff Real Estate Group, LLC.The Ackman-Ziff Real Estate Group, LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control recently arranged an $80 million construction loan and a $30 million mezzanine construction loan for Ian Schrager Ian Schrager is a hotelier and real-estate developer. Schrager began his career as a nightclub owner. In 1977 he partnered with Steve Rubell, his fraternity brother from Syracuse University, in launching the New York City discothèque Studio 54. Hotels LLC, an entity owned by NorthStar Capital Investment Corp. and Ian Shrager. Proceeds of the loan will be used to renovate the existing 26-story, 463,000 square-foot property to a hotel and to pay off a $26.5 million acquisition loan arranged by Ackman-Ziff earlier this year.
The Hemy Hudson Hotel will stand in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?"
midmost of New York's elite entertainment and shopping districts. The property is a through-block building with frontage on both West 57th and West 58th Street between 8th and 9th avenues on Manhattan's West Side, adjacent to Columbus Centre, a $1.3 billion, 2.5 million square-foot planned mixed-use redevelopment project.
Ackman-Ziff secured CORUS Bank, N.A. as the lead lender, and assisted in securing two of the four participants for the $80 million construction loan, as well as securing an institutional investor Institutional Investor
A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. to provide the $30 million mezzanine loan.
The building was originally erected in 1929 as the American Woman's Association Clubhouse and in 1941 was converted into a hotel, later partially converted into television studios and headquarters offices for WNET Wnet Windows Networking
WNET Women's Network for Entrepreneurial Training
WNET Wireless Network Channel 13. The balance of the building functioned as a single room occupancy The expression "single room occupancy" or, more commonly "SRO", refers to a building that houses people in single rooms. This means that tenants must share bathrooms and kitchens. hotel with ground floor retail stores.
The renovation plan consists of 850 guest rooms, a conference and banquet facility, a business center and public areas, featuring several restaurants and lounges, an outdoor garden terrace and a 45,000 square-foot, state-of-the-art, 24-hour health club/spa. The general contractor is Lehrer McGovern Bovis and completion is slated for the Third Quarter of 2000.