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

A former bank on Rome's Parliament Square will become a Corinthian hotel with a central garden.

The property will re-open as Mandarin Oriental Palace, Luzern at the end of 2020.

The concept blends the shared spaces of an apartment with the privacy of traditional hotel guestrooms.