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Transforming The Former Cecil Hotel Downtown
May 25, 2016
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It is known as a hotel where bodies have been found and for serving as the inspiration for a season of FX's "American Horror Story."
However, two New York developers plan to transform and restore the former Cecil Hotel, which currently goes by the name Stay on Main Hotel.
The hotel was sold two years ago to New York developer Richard Born for $30M.
Now Simon Baron Development has a 99-year ground lease on the building (for $15/SF per year), according to Curbed. Some of Born's team reportedly will be involved.
Plans include turning the property into a mix of hotel rooms and apartments and restoring the building. [Curbed]
