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Mayflower Hotel Sold

Big real estate development news: the Mayflower Hotel on Central Park West has been sold. The hotel, long coveted by Trump and every other NYC developer worth their weight in gold plating, will be razed, reportedly to make way for twin 39-story residential towers by archictect Cesar Pelli & Associates. The new development, the Times reports, "could easily take its place among Central Park West's premier apartment houses, the Century, the San Remo and the Dakota."

The buyers (William Lie Zeckendorf and Arthur Zeckendorf, plus the Whitehall real estate fund of Goldman Sachs and an investment company controlled by Eyal Ofer), are reported to have paid $400 million -- roughly $690 a square foot. Or, in layman's terms, a whole hell of a lot of money.
· Mayflower and Its Vacant Lot to Be Sold [NYTimes]
· Mayflower Hotel [mayflowerhotel.com]
· Cesar-Pelli and Associates [cesar-pelli.com]