Manhattan Hotel Investments - Hotel Brokers in New York City

Bryant Park Hotel $89 million mortgage Issue

The owners of the trendy, 128-room Bryant Park Hotel are struggling to keep up with payments on their $89 million mortgage, according to the Wall Street Journal.

Data from Realpoint LLC shows that the owners -- investor Philip Pilevsky, Century 21 discount retail stores owner Raymond Gindi and Rainbow Shops owner Joseph Chehebar -- were late on their March payment as a result of insufficient cash flow.

They have since made the payment, and the loan is now current, but industry experts say the 40 West 40th Street hotel, converted from an office building in 2001,

Bryant Hotel 40 West 40th Street New York, NY 10018-2602

Article Source: WSJ and TRD

 

Bryant Park Hotel

Bryant Park Hotel

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