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Ace Hotel Upping the Buyout Offers


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2008_acehotelrendering.jpg?__SQUARESPACE_CACHEVERSION=1219766741874The record player having, soon-to-open, super cool Ace Hotel seems to have everything put together. With a hip brand opening its first NYC locations, Rudy's barber shop, gourmet coffee, Ken Friedman backed restaurants, and guitars in the rooms, how could it possibly fail? Well, they still have to get rid of the SRO tenants, and it looks like things are getting a bit desperate. A Little Birdy reports that "there are some tenants that have simply refused to take a buy out, and the people from the Ace have repeatedly raised the offer. It started out at $5,000 and has doubled several times. I have heard the remaining tenants are being offered around $100K just to get out!" Do you hear that people? We suggest finding yourselves a room in one of the few Manhattan SRO's left and hunkering down until some fancy hotel developer "discovers" an opportunity.

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