Asset management, management contract restructuring negotiations, renovation program preparation and implementation, owner representation to operator.

In early 2005, after a couple more changes of ownership, the hotel facility was acquired by a development group interested in converting the facility to residential condominium ownership. Even while operating as a lodging facility, the property had several occupants holding a right to occupy their units as residences under long-term leases.

Client: New York Overnight Partners, represented by NEI Investor Group