This book takes architects and designers on a worldwide journey to discover the most stylish and appealing spots, from an urban getaway in Europe to a resort on a South Pacific island, providing a serene ...
Helmsley hotel sells for $170 million while Icahn group gets Tropicana for $200 million
A pair of high-profile hospitality properties – the Helmsley Carlton House in New York and the Tropicana Casino & Resort in Atlantic City, N.J. – are under new ownership.
The estate of real-estate baroness Leona Helmsley has signed a deal to sell its Helmsley Carlton House for $170 million to a venture of private-equity firm Angelo, Gordon & Co. and Extell Development Co., The Wall Street Journal reports. The newspaper noted that the deal marks the beginning of the final act of the Helmsley saga in which properties accumulated over four decades by the late Harry Helmsley and subsequently controlled by his wife, Leona, until her death in 2007, are going to be sold. The deal for the Madison Avenue hotel also signals that “investor appetite is keen for trophy assets,” the Journal reports.
The Tropicana, meantime, is now owned by an investment group headed by Carl Icahn. The New Jersey Casino Control Commission has approved turning the gaming destination on Atlantic City’s beach and Boardwalk over to the Icahn group, which bought it at a bankruptcy auction for $200 million. The property features more than 2,100 rooms and suites, a 200,000 square foot entertainment complex, 20-plus restaurants, 25 shops, 12 bars and lounges, 2 pools, an IMAX Theatre and a spa.
-Posted March 10, 2010