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Hotelification of NYC

Last year, Kash Group spent $9 million and got in return a handsome 1924-built mansion on East 39th Street that was formerly a club for Williams College alumni. Now they're going to turn it into?surprise!?an extended stay hotel called, yep, The William. The conversion will take another $11 million and result in 33 rooms, most of which will have full kitchens and require a minimum visit of 30 days at a rate of $7,500 to $18,000 per month. Add yet another project to the epically long list of hotels under construction. [Crain's; photo via PropertyShark]