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Article: Shrager buys lease for Gramercy Hotel.(Gramercy Park Hotel)(Ian Schrager)(Sol Goldman Trust)
- Article from:
- Real Estate Weekly
- Article date:
- August 20, 2003
- Author:
CopyrightCOPYRIGHT 2003 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Gramercy Park Hotel--a city institution for over 80 years--looks set to be sold for the second time in just 12 months.
According to a source close to the deal, Steven Greenberg--the current leaseholder of the building, which is owned by the Sol Goldman Trust--is involved in negotiations with German developer, Aby Rosen, and nightlclub owner and hotelier, Ian Schrager, to take over the once glimmering hotel.
"They have made an investment that, depending on other factors, is likely to put them in full control of the hotel," the source told REW.
Although he was unable to provide details of the deal, it is thought to involve several millions.
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