The Park Lane Hotel, with an address of 36 Central Park South, was constructed in 1972 and has 610 rooms. It is a 47-story building.<\/p>\n
The opulent Park Lane Hotel, which is ideally situated just off Central Park, is estimated to have cost the Qatar Investment Authority close to $623 million.<\/p>\n
In 2017, the infamous 1Malaysia Development Berhad scam involved the Park Lane hotel. Prior to his conviction on corruption and money laundering charges, fraudster Jho Low, who was found guilty of stealing money from the Malaysian state fund, had planned to work with the former owner Witkoff Group to buy this hotel.<\/p>\n
The land was initially going to be seized by the US government, but an arrangement with the other owners made it possible for a sale.<\/p>\n
The property had received few bids since it was priced at $1 billion in 2017. Only Mubadala Investment Co. of Abu Dhabi has acquired a $140 million interest in the hotel.<\/p>\n
For the better part of six years, the building’s status had been largely in limbo.<\/p>\n
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