Remember when the Dubai royal family thought there was room for another luxury hotel on 42nd Street, back in the dreamy days of 2006, and paid $300 million to buy the Knickerbocker Hotel? Surprise, surprise, the promised hotel restoration hasn't happened, and the Post's Steve Cuozzo reports today that Istithmar World, which owns the Broadway and 42nd Street building, is thinking about selling it. Douglas Durst, developer of nearby One Bryant Park, said Istithmar's mess on 42nd street "doesn't make me very happy." But with Dubai's own market falling apart, we're guessing the royal family has bigger things to worry about. [Post, previously]
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