After it is purchased, it will undergo a massive renovation project expected to add upwards of $125 million more to the price investment. For all that, it may be that part of the hotel will remain open to customers, but that might add “Noisiest Hotel” honors to the hotel as construction crews perform what is a thorough renovation to the facility. The man selected by the owner to run point for the sale is Lawrence Wolfe. Wolfe claims that he is preparing offers to present to the seller. It may be that price alone isn’t the only factor that will determine the sale, but it certainly will be a determining factor.
As per Trip Advisor, the dubious honor bestowed upon the hotel has been done thrice. One recent patron said she paid $200 for a single night and the shower had no hot water. She admitted that the location of the hotel was great. Presumably that is for its access to Broadway and Times Square, but she believed the hotel is far from resolving concerns about room quality. The hotel was constructed during the Great Depression and has simply not been maintained. It has been cited many times for violations of city codes.