New York's Knickerboker Hotel building being divided into condos

The Real Deal reports that a joint venture that includes Crown Acquisitions and Ashkenazy Acquisition Corp. has segmented the 282,000-square-foot Knickerbocker Hotel near Times Square into three commercial condominiums. Ownership split the 15-story Beaux-Arts structure into one hotel condo and two retail condos. Chicago-based investor Walton Street Capital partnered with Texas-based hotel owner Highgate Holdings, and Midtown-based Crown and Ashkenazy to purchase the building for $180.5 million in July 2010. Real Deal reports that there were no plans to sell the condos.

Suggested Articles

The new hotel is a mile from where the brand made its debut in London's Mayfair neighborhood 48 years ago. 

The hotel investment properties chief sees emerging trends on the horizon as investment patterns shift.

The former Holiday Inn in Port Washington will continue under the direction of S&L Hospitality, its owner and operator since 1998.