The Breslin Hotel was opened in 1904 and is a 12-story structurewith retail on the ground floor. A source close to the deal couldnot project a renovation cost at this time. The source also couldnot detail any further information on what the renovation wouldentail by press time.
The fee interest is owned by the Lillian Goldman Family LLC andthe Estate of Lillian Goldman. Acquisition and constructionfinancing of up to $75 million was provided by HSBC Bank USA,National Association and West LB AG, New York Branch. The hotelwill be managed by Ace Hotel Group.
GFI was represented by in-house general counsel Alan Schacterand Greenberg Traurig shareholders Robert Ivanhoe, JonathanMargolis, Steven Shapiro and Allison Rosenberg and associates DavidBass and Joshua Hager. Dune was represented by in house generalcounsel Joshua Eaton and partner Gregory Ressa and senior counselSteven Stickler of Simpson Thacher & Bartlett LLP. BroadwayBreslin Associates was represented by partner Richard Wolloch ofWinnie Banta Hetherington Basralian & Kahn PC inHackensack.
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