Midtown

Hunkier-than-thou hotelier Andre Balazs has closed on the sale of Hotel QT for a handsome $82 million.

The deal appeared in public records today, though Crain's New York apparently broke the news, with nary a splash, last week.  read more »

The politics of congestion pricing is nearing a boiling point and opponents continue to make the case for a different approach to traffic reduction.

There are, of course other ways of reducing congestion, but Mayor Bloomberg’s proposal has the advantage of generating new resources for mass transit.

On Friday, our new Governor, David Paterson, demonstrated political courage and came out in favor of the plan to charge drivers for entering New York’s Central Business district during the work day. He joins City Council Speaker Christine Quinn and State Senate Majority Leader Joe Bruno in support of the bill. Assembly Speaker Sheldon Silver has yet to be heard from.

However, lots of prominent politicians are opposing all or part of the Mayor’s plan.

Today, New York's City Council begins formal consideration of the proposal.  read more »

Prolific hotelier Sam Chang just keeps on a-wheelin' and a-dealin'.

One day, he's selling his unfinished Sheraton on Canal Street for $83.5 million, according to The Real Deal.

A few days later, he picks up a new site for $24 million, according to city records. Mr. Chang's latest acquisition, at 431 West 33rd Street, is, according to PropertyShark.com, a 7,000-square-foot parking lot.

Now, the voracious developer may not be known for his valet skills, but he did build a Holiday Inn Express.

One can only assume another McSam hotel is in the works. But which chain? Hilton? Comfort Inn? Candlewood Suites? Stay tuned.

"Well, we won a small victory in the battle, but the fight isn't over yet," said Gregory Jones.

The lead organizer of the "Save The Hotel" campaign was reacting to news that financial giant Merrill Lynch will likely stay put in the city's financial district -- and not relocate to the site of his beloved Hotel Pennsylvania.

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The city's plan to build a park on the property of the upscale apartment building One Sutton Place South just hit a snag.

Sutton Place South Corporation, the owner of the co-op at 57th Street along the East River that's included C.Z. Guest, Patricia Kennedy Lawford and Sigourney Weaver as residents, has filed a lawsuit in New York State Supreme Court to prevent the city from building a park on land that belongs to the building. The lawsuit was filed after the Department of Transportation alerted the building on May 31 of its plans to start construction at the end of June.
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