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The Ritz-Carlton Hotel New York

Owner representative and asset management of The Ritz-Carlton on Central Park in New York.   Asset management included hotel management contract restructuring negotiations, renovation program preparation and implementation, and 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.