Issue link: https://digital.copcomm.com/i/16726
NEW OWNERS PLAN EXTENSIVE REDEVELOPMENT INITIATIVE Highgate Holding – in partnership with Ashkenazy Acquisitions Corporation and Crown Acquisitions – has acquired the historic Knickerbocker Hotel and an adjacent 10,000-sq. ft. lot at 1466 Broadway in Manhattan. Originally developed by John Jacob Astor at the turn of the last century, the 300,000-sq. ft. Beaux-Arts building stands on the south- east corner of 42nd Street in the heart of the Times Square district along one of New York City’s most highly trafficked thoroughfares. Having successfully overcome heavy competition for the site from dozens of potential buyers, the new owners will undertake a compre- hensive mixed-use redevelopment initiative. As part of the makeover, the partners will convert the building to an upscale boutique hotel, with high-end retail in its base. In addition, the ownership team will develop the adjoining lot into a new luxury retail complex. The high-profile property’s rejuvenation will mark the latest mile- stone in the dramatic revival of the 42nd Street block between Broadway and Avenue of the Americas. The street’s renaissance – which has been rapidly unfolding over the past decade – has most notably included the opening of the 48-story Condé Nast building in 2000 and this year’s completion of the 55-story One Bryant Park tower, Bank of America’s New York City headquarters. The property – also known as 6 Times Square – had been under the control of Danske Bank. Danske Bank was advised by Jones Lang LaSalle during the sales process. The new ownership group is uniquely qualified to execute the mixed-use revitalization of the property. With a $6 billion global real estate portfolio concentrated primarily in hotels and lodging assets, Highgate has an excellent, international reputation in hospitality ownership and management. Complementing Highgate’s strengths in the hospitality space, both Ashkenazy and Crown are widely regarded as sophisticated owners and developers of prime retail assets. Hilton Hotel and Suites Niagara Falls/Fallsview Unveils Presidential Suites TOWERING OVER THE FALLS IN LUXURY! After much anticipation, the Hilton Hotel and Suites Niagara Falls/Fallsview, Canada’s tallest hotel tower, has officially unveiled their pair of Presidential Suites. Located on the 50th floor, the Presidential Suites offer guests unparalleled luxury and spectacular views of both the Canadian and American Falls. “This new addition to our hotel is extremely exciting,” said Anthony Annunziata, VP of Marketing and Development, Hilton Hotel and Suites. “With the Presidential Suites, we are changing the way people see Niagara Falls, by offering guests superior accommodations, one-of-a-kind views of the Falls and exquisite décor, all of which are unavailable anywhere else in the area,” he con- tinued. Designed to magnify the beauty of Niagara Falls, the brand new Presidential Suites feature floor-to-ceiling win- dows, accompanied by remote controlled blinds and shades, and a chic atmosphere created by the décor in shades of white, silver and black. Upon entering the suite, guests will find themselves in a small foyer that opens up to 1,500 sq. ft. of pure luxury. On the one side of the foyer is an intimate sitting room; complete with a full bathroom and access to a bal- cony, perched 50 stories above the city! For those guests in search of privacy, escape through the double doors into the blissful master bedroom featuring a King- sized bed and a private en-suite, equipped with a walk-in shower and Jacuzzi tub, overlooking the living area and beyond. For additional information on the Hilton Hotel and Suites Niagara Falls/Fallsview’s Presidential Suites, visit: www.nia- garafallshilton.com. Black Meetings & Tourism July/August 2010: www.blackmeetingsandtourism.com 15