The price equates to $170,370 per room for the hotel at 319 ParkAvenue South and $19,828 per seat for the adjoining restaurant at307 Park Avenue South.
Park Avenue Holdings Ltd. was the seller. G.P. Partnerships ofOrlando Inc., headed by James R. Mitchell of Miami, is the generalpartner of the purchaser.
The hotel and restaurant are patronized by local, national andinternational visitors and dignitaries. Hotel daily average roomrates are $90 to $150. Restaurant prices are $25 to $50. The130-seat dining room also has semi-private seating for 42 guestsand a 60-seat lounge.
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