NEW YORK CITY-About 15 potential buyers are bidding for the773-key New York Helmsley Hotel located at East 42nd Street. Mostof the offers exceeded $300 million. The head of Cushman &Wakefield Inc.'s US Hotel Group, Mark Gordon predicted that theproperty could fetch over $367 million or $500,000 per room.
CB Richard Ellis Inc. is handling the sale of the property. Thedue date for the second round of bidding is not yet announced.For the full story, go to Crain's New YorkBusiness.
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