Bidders Line Up For Sale of New York Helmsley
From Crains New York Busines:
Midtown Property Could Fetch $500,000 a Room
As it turns out, interest in owning the New York Helmsley Hotel on East 42nd Street is strong indeed. By the time the deadline for submission of the first round of bids had passed at the end of last month, roughly 15 prospective buyers, including Tishman Hotel & Realty, had lodged bids on the 773-room property. Many proposals topped $300 million. It was unclear when the second round of offers is due, but some industry insiders say the middle of this month is the likely date. Click here for the full story.
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