NEW YORK— The Essex House, the historic hotel that overlooks New York’s Central Park, is about to trade hands. Dubai Investment Group has entered into a contract with the seller, Strategic Hotel Capital LLC, to acquire the property. Sonnenblick-Goldman Co. and Goldman, Sachs & Co. are assisting SHC with the disposition. The terms of the sale have not been disclosed. However, the transaction is expected to close during the third quarter. The hotel, which contains a 501-room Westin and a 104-room St. Regis, also has 148 private residential condominiums. However, 139 of those residential units will not be included in the sale. Leading up to the sale, SHC sought to ensure that potential buyers would maintain the current character and use of the hotel. Dubai has indicated that it will maintain the high level of hotel service at the asset.
Previous ArticleBest Western Opens Minnesota Hotel
Next Article Rohling To Join Lodgian As President