Kasowitz Reps Witkoff Group In $660M Park Lane Hotel Deal

Law360, New York (November 26, 2013, 5:39 PM EST) -- An investment consortium led by the Witkoff Group and Jynwel Capital said Tuesday it has closed a $660 million deal to acquire New York City’s Park Lane Hotel from The Leona M. and Harry B. Helmsley Charitable Trust.

Witkoff and Jynwel are joined by New Valley LLC, Highgate Holdings and Macklowe Properties in the consortium, which agreed to purchase the 47-story hotel in July adjacent to Manhattan’s Central Park from the estate of real estate giant Leona Helmsley. The consortium plans to rebrand the 605-key, 446,000-square-foot...
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