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Hospitality Co. SBE Plans $85M NYC Luxury Hotel

By Kaitlin Ugolik (July 18, 2012, 3:36 PM EDT) -- Los Angeles developer Sam Nazarian's hospitality company, SBE Entertainment Group LLC, has made its first foray into Manhattan, purchasing an office building in southern Midtown with plans to convert it into a luxury boutique hotel for $85 million, a person familiar with the deal said Wednesday....

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