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Press Release
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Contact: Nick Derasmo (212.841.7505) |
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DONALD TRUMP TO BUY LANDMARK HOTEL DELMONICO; SONNENBLICK-GOLDMAN COMPANY ARRANGES SALE |
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Thursday, November 29, 2001
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New York, NY
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Donald J. Trump signed a binding contract to acquire the Hotel Delmonico in Midtown Manhattan, according to Sonnenblick-Goldman Company, which served as exclusive advisor to the seller.
Sonnenblick-Goldman’s international marketing effort secured 12 binding proposals from highly qualified buyers, according to Mark Gordon, head of the firm’s International Lodging and Leisure Group.
“Mr. Trump, who spent several months analyzing the hotel, ultimately submitted the most attractive proposal encompassing price, terms and conditions,” Mr. Gordon said. “He is currently studying various alternative uses for the property and will take ownership in early 2002.”
Joseph Williams, Sonnenblick-Goldman’s managing director, added, “There was intense competition between several highly qualified bidders right until the final hours of negotiation. The fact that we were able to secure a dozen proposals in the current economic environment is reflective of the international community’s belief that New York is and will remain the financial and leisure capital of the world.
The Hotel Delmonico, at Park Avenue and 59th Street, is a 31-story structure built in 1927. It was converted to a 170-unit luxury apartment building in 1974, and reconverted into an all-suites hotel in 1990.
Not included in the sale is a small, adjoining building at 59 East 59th Street, which will be donated to a private foundation to be used as a not-for-profit theater. |
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Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
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