New York City’s Paramount Hotel to Be Sold for $275 Million

New York City is one such place that will never stop drawing visitors. It is one of those places where you just gotta go and visit before your time is over, as it could easily be called the capital of the world, if such a concept did exist. Now, Paramount Hotel in New York City is known for its classic beauty and its amazing architecture, and there is nothing that can change a person’s attitude about such traditional hotels.

Thus, even if someone else buys the hotel, it would always be a popular place to visit and to stay when in NYC. Aby Rosen is now adding the Paramount Hotel and he has agreed to pay up a huge amount of $275 million. The hotel consists of 597 rooms and it was sold by the Walton Street Capital and Highgate Holdings. The hotel is situated between 46th Street between Broadway and Eighth Avenue.

It faces competition from other hotels around the Times Square, which may make it difficult for the new buyer to make a lasting impression. Now, it is all up to the person who would buy it to make sure that the hotel gains its former glory back. Otherwise, it may turn into a truck stop with a lot of glorified glory holes all around, with men looking for a place to poke their junk in and get pleasured. So, now you think about it, and guess if Aby baby would be able to make any money out of the luxury hotel Paramount deal.

Via: WSJ

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