Tycoon Donald Trump picked up another high-profile property this week, splashing out $115 million on Manhattan’s Hotel Delmonico. And while Trump’s offer didn’t top the list of interested parties, brokers were swayed his Midas touch.
“There was intense competition. We didn’t pick the highest bid but the better overall final proposal,” said Mark Gordon of brokers Sonnenblick-Goldman. Twelve organisations in all expressed interest in the 169-room hotel.
Trump plans to renovate the posh Park Avenue property, but not before taking into consideration the effects of the September 11 attacks. “I want to get to know the building better and see where the world is going,” he said. “Whatever I do in the future it will be beautiful.”
The Manhattan high-rise currently features both a swanky hotel and a series of deluxe apartments. No plans were announced, but insiders say the Delmonico – located just blocks from famed toy story FAO Schwarz, Grand Central Station and Radio City Music Hall – may be converted into luxury apartments.
Photo: © Alphapress.com
Photo: © Alphapress.com
