The Lombardy Hotel at 111 East 56th Street (Google Maps)
A Gilded Age hotel once owned by William Randolph Hearst may get a fresh look in the new Roaring ’20s, now that the slumping hotel market has investors thinking about selling.
Shareholders in the Lombardy hotel co-op at 111 East 56th Street are looking to sell the property for north of $150 million, sources told
The Real Deal.
The co-op shares are held by investors who sought to capitalize on the city’s booming tourism industry pre-Covid. But with the hospitality business still struggling to recover, owners are growing weary of covering the carrying costs of empty rooms and have banded together to sell all their shares, according to a person familiar with the listing.
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