Is Goldman Sachs getting into the downtown hotel business? Seems so, according to a nifty little scoop from Downtown Express that says the firm is buying the Embassay Suites Hotel in Battery Park City. For what nefarious purpose, you ask?
There is much speculation about what the investment bank plans to do with an all-suite hotel. A Downtown real estate source who had heard generally about Goldman’s plans said of the Embassy building, "Let's start with the fact that it's really ugly." He said the firm would likely either demolish the building or change its façade and could be interested in the hotel as a place for visiting executives to stay.The hotel, of course, is across the street from Goldman's forthcoming new HQ. Imagine: bed to desk in under five minutes. And just like that, the ibanker dream is realized.
· Goldman to Buy Embassy Hotel [Downtown Express]
· New Goldman HQ: Misty Mountain Hop [Curbed]