The Essex House's name just keeps getting longer. The Dubai Investment Group has unloaded the hotel-condo after putting it on the market five months ago and the new buyers, Strategic Hotels & Resorts, have announced plans to rename it the JW Marriott Essex House New York. Just rolls right off the tongue. Strategic financed the $362.3 million deal with a $190 million loan from Bank of America and plans to spend another $18.3 million on renovations. The Dubai Investment Group purchased the property for $440 million in 2005. [Crain's; previously]
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