Written by Dave Gil de Rubio: email@example.com
Friday, 29 June 2012 00:00
Long Island landmark sold to Manhattan realty group
Morris Moinian’s Manhattan-based Fortuna Realty Group recently signed a contract to purchase the storied Garden City Hotel from the Nelkin family, according to published reports. The 272-room hotel lies on 8.6 acres and was originally constructed in 1874 by Village of Garden City founder Alexander Turney Stewart and in the subsequent time, has been rebuilt four times, twice by storied New York architect Stanford White. Originally acquired by the Nelkins in 1979, the historic building was renovated and reopened in 1983 by the late Myron Nelkin. The Garden City Hotel’s selling price has not been revealed but the deal is expected to close in 90 days, according to Patrick S. Smalley, the hotel’s executive vice president and managing director.
“The Nelkin family and I not long ago concluded that we had achieved all of the goals we set out over the past several years and determined that after three decades, the time had come to pass the stewardship of this iconic hotel on to others,” Smalley said in a released statement. Regarding the nearly 300 employees the hotel presently employs, Smalley stated, “I think it’s fair to say that anyone interested in the hotel would want to continue with the incredible staff that we have.”
Calls to Fortuna Realty were not returned as of press time.