Construction Maison

“We are not selling our stake and are comfortable with our rights relating to any sale by others,” said Sarmad Zok, chief executive of the prince’s company, Kingdom Hotel Investments . “We are proud to have partnered with Ashkenazy to reinstate the glory of this unique asset.” The partners have a plan for an extensive modernization program to better compete with other five-star hotels in Manhattan and to reopen areas of the hotel that have been bogged down in renovations. The Plaza’s famous Oak Room and the wood- paneled Oak Room Bar have been closed for the past six years. Whether Mr. Roy and Sahara truly intend to sell or are merely trying to bolster the price, they appear to be pressing forward. “We’ ll solicit bids ,” said Jeffrey Davis, an international director of JLL, who is overseeing the bidding for Sahara. “It’s the most iconic real estate asset in the world. It’ ll garner international attention .” Mr. Davis declined to comment on whether Kingdom Hotel Investments has ...

“We are not selling our stake and are comfortable with our rights relating to any sale by others,” said Sarmad Zok, chief executive of the prince’s company, Kingdom Hotel Investments . “We are proud to have partnered with Ashkenazy to reinstate the glory of this unique asset.” The partners have a plan for an extensive modernization program to better compete with other five-star hotels in Manhattan and to reopen areas of the hotel that have been bogged down in renovations. The Plaza’s famous Oak Room and the wood- paneled Oak Room Bar have been closed for the past six years. Whether Mr. Roy and Sahara truly intend to sell or are merely trying to bolster the price, they appear to be pressing forward. “We’ ll solicit bids ,” said Jeffrey Davis, an international director of JLL, who is overseeing the bidding for Sahara. “It’s the most iconic real estate asset in the world. It’ ll garner international attention .” Mr. Davis declined to comment on whether Kingdom Hotel Investments has ...

NEW YORK, NY — In the summer of 1977, New York City was — literally and figuratively — on fire. It was the summer of disco fever, of Studio 54. It was the summer of Yankees mania. It was the summer that catapulted Ed Koch to City Hall. And in mid-July, it turned into the summer of darkness, when an epic, five-borough power outage — deemed an "act of God" by Con Ed — plunged the city into two days of total blackout. Airports shut down. News stations went off the air. Thousands were stuck in underground subway tunnels . Meanwhile, in the streets, the down-and-out — at their breaking point after years of municipal layoffs and a steady surge in violent crime — rioted and looted with abandon. Arsonists reportedly set more than 1,000 fires across the city in a single day. The Bronx, it would later be said, was burning. It was also the Summer of Sam. Want more local news? Sign up here to receive free newsletters and alerts from the New York City Patch . In spring 1977, police con...