On January 28, The Gansevoort South will be auctioned. The luxury 334 room hotel is the project of developers William and Michael Applebaum, who opened it two short years ago.
Developers note that the weak residential condominium sales have impacted the projects financials and that the hotel in fact is profitable.
The Gansevoort has 259 residential condominium units and 63,000 square feet of shops, restaurants, and salons. Its' outstanding mortgage is$314,000,000. This is a project to continue to watch.
Developers note that the weak residential condominium sales have impacted the projects financials and that the hotel in fact is profitable.
The Gansevoort has 259 residential condominium units and 63,000 square feet of shops, restaurants, and salons. Its' outstanding mortgage is$314,000,000. This is a project to continue to watch.
