The Jumeirah Essex House Could Be Yours For A Couple Hundred Million
If owning a classic piece of Manhattan architecture ever sounded like something you'd be into (and you've got some dough saved up) then consider making a move on the Jumeirah Essex House, which is up for sale as of now.
The CEO of the hotel's Dubai-based owner told Crain's this is "a timely opportunity to capitalize on the repositioning and operational improvements executed by our team," referencing all the technological upgrades and re-designs that they did to freshen up the place back in 2007.
But really, it's the hotel's iconic red neon sign, one of the most recognizable in New York (along with The Empire and The New Yorker), that will be the main draw for buyers. Ready to cash in, the Dubai Group hopes to fetch between $400-$500 million for the historic property.
As of now, it remains uncertain whether the Jumeirah Group would continue to operate the hotel after the sale. Though no changes have been made yet, the Dubai Group said that they could be open to offers that keep Jumeirah on or offers that install new management.
We're certainly curious to see where this goes, and whether, after 2007's revamp, the Essex House is getting ready for an even bigger makeover. Could this mean a completely new direction for the historic Central Park-facing hotel? We'll have to wait and see!