September 21, 2005

Legendary Algonquin to sell for $74 million

The Algonquin is in contract to sell for $74 million and will likely continue operating as a hotel, despite the trend toward condo conversion, the Post reports.

The buyer, Norwalk-based HEI Hospitality, will use its Merritt Hospitality group to manage the 174-room hotel, according to the Post.

The hotel's Oak Room and its prominent round table was famously used by Dorothy Parker and friends from 1919 to 1929 as a meeting to place to talk and drink lunch. "They were the most celebrated literary group gathering in American letters, ever," the Dorothy Parker Society of New York's web site says on its page devoted to the history of The Algonquin.

Built in 1902, it was originally operated as The Puritan Hotel, according to the AIA Guide to New York City. By 1903, the price for a sitting room, library, dining room, 3 bedrooms, 3 baths and a private hall was $10 a day, while a simple bedroom with bath was a mere $2 per day, according to the AIA.

The Algonquin is located at 59 W. 44th St. between Fifth and Sixth avenues. Map.

Earlier: Parkerfest 2005 kicks off Sept. 30 at The Algonquin
The Plaza closes for 18-month renovation
NYC's lost 3,300 hotel rooms to condo conversions
Hotels going condo can't keep pace with demand

September 21, 2005 07:53 AM in History, Hotelology, Midtown

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