The Ritz-Carlton Hotel New York
New York, New York USA
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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
