
NEW YORK CITY-Hilton Garden Inn, a 282-room hotel, is under construction at 136 W. 42nd St. A joint venture of Highgate Holdings is developing the 4.5-star hotel at the old Knickerbocker site.
The joint venture has an agreement to sell the 37-story hotel for $445,000 per key to Diamond Rock Hospitality when it gets completed in early 2014. In the meantime, FelCorLodging Trust is preparing to convert the former Knickerbocker site at the Broadway corner into a 330-room hotel. For the full story, go to New York Post .
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