Hotel Goldman

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Marketwatch has more details on the Embassy Suites hotel in Battery Park that Goldman Sachs is reportedly buying, including new speculation on what Goldman might be planning for the site.

Robert Sammons, director of research at real estate brokerage firm Colliers ABR, said the sale would allow Goldman to control the entire block once its new headquarters opens in 2009.
"It's right next door to their new building, and they can use the hotel for their own people if need be and for bringing in people from outside for events," he said. However, he speculates that - more importantly - the acquisition will give Goldman the option to demolish and redevelop the property down the road so that it can add on to its corporate headquarters as the firm grows.


Goldman Sachs in talks to buy hotel complex in downtown New York City
[Market Watch]

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