The Dubai owner of Jumeirah Essex House, the art deco hotel perched prominently on the edge of New York's Central Park, said Monday it is putting the property up for sale.
A subsidiary of the Dubai Holding investment company controlled by the emirate's ruler bought the 44-story luxury hotel in September 2005. It has been managed by a sister company, Dubai Holding's Jumeirah Group hotel division, since shortly after the Hotel Acquisition.
160 Central Park South, New York, NY 10019
Update: August 14th 2012 Strategic Hotels & Resorts is regaining ownership of the Jumeirah Essex House on Central Park South. According to Crain’s, the firm paid Dubai Investment Group between $350 million and $400 million (Crain's ) Dubai had purchased it from Strategic in 2005 for about $440 million
The Wall Street Journal reported that the 509-room hotel, which sits on the south end of Central Park, may get bids as high as $500 million.
Dubai Investment Group acquired the property in 2006 and renovated much of its interior in 2010.
The Essex House, which opened as the Park Tower Hotel in 1931, was a Marriott hotel at one time. The Luxury Central Park Hotel also has operated under the Westin flag.
Essex House opened in 1931 at the southern end of Central Park, between Sixth and Seventh avenues. Its red rooftop "Essex House" sign has made the hotel a Manhattan landmark for decades
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