Highgate Holdings Acquires Knickerbocker Hotel

22nd June 2010 (Last Updated June 22nd, 2010 18:30)

Highgate Holdings, in partnership with Ashkenazy Acquisitions Corporation and Crown Acquisitions, has acquired the historic Knickerbocker Hotel in New York, US, for $180.5m. An adjacent 10,000sqft² lot in Manhattan was also included in the sale. The new owners will und

Highgate Holdings, in partnership with Ashkenazy Acquisitions Corporation and Crown Acquisitions, has acquired the historic Knickerbocker Hotel in New York, US, for $180.5m.

An adjacent 10,000sqft² lot in Manhattan was also included in the sale.

The new owners will undertake a comprehensive mixed-use redevelopment initiative and will redevelop the 300,000sqft² building into an upscale boutique hotel, according to hotelinteractive.com.

Highgate Holdings is a hospitality management and real estate investment company, Ashkenazy Acquisition Corporation is a private real estate investment firm and Crown Acquisitions is a real estate development firm based in North America.