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How Much for a Dashed Little Chitaly Dream?

The Real Deal has closed the loop on the decline and fall of the next great Little Chitaly hangout. We previously mentioned that the Holiday Inn Soho at 138 Lafayette was sold by new owner Highgate Holdings, who bought the 227-room hotel in the spring for $42.5 million and planned to convert it to a luxury boutique job. How much was Highgate offered by the Procaccianti Group to flip the property instead of following through on those lofty AvroKO/restaurants/bars/coolness promises? $128 million. Yeah, we would've sold too.
· Holiday Inn Soho sold for $128M [TRD]
· Little Chitaly Shocker: Boutique Hotel Plans Off? [Curbed]