Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-The owners of the Alex Hotel and Flatotel in Midtown have filed for chapter 11 protection after failing to repay the principal on secured loans for the properties. According to a May 21st filing from the US Bankruptcy Court in Manhattan, 205 East LLC, a New York limited liability company that owns the 33-story, 203-unit luxury Alex Hotel located at 205-209 E. 45th St., has more than $123 million in outstanding loans, and the second debtor, EALC LLC, a Delaware limited liability company that owns the 46-story, 290-unit Flatotel at 135 W. 52nd St. in West Midtown, owes more than $245 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.