PARTNERSHIP ACQUIRES KNICKERBOCKER HOTEL
NEW YORK CITY — A partnership between Highgate Holdings, Ashkenazy Acquisitions Corp. and Crown Acquisitions has purchased the historic Knickerbocker Hotel in New York City. The 300,000-square-foot building is located at 1466 Broadway in the heart of Times Square. The new ownership plans to convert the hotel to an upscale, boutique property with high-end retail space on the street level. The purchase also included an adjacent 10,000-square-foot lot, which will be developed into a new luxury retail complex. The seller was Danske Banke, which was represented by Jones Lang LaSalle in the deal.