Bryant Park Hotel in Pinch

by on May.03, 2011, under Vijver

BY KRIS HUDSON

Midtown’s chic Bryant Park Hotel, a favored haunt of the film and fashion industries, has run into difficulty making its mortgage payments, according to a debt research firm.

Realpoint LLC reported that the 128-room hotel, which houses the popular Asian restaurant Koi, hasn’t generated sufficient cash flow to cover its debt payments, resulting in the borrowers “struggling to remit the payments on time.” The hotel was late on a March payment on its $89 million mortgage, Realpoint reported.

But a representative for the hotel’s trio of high-profile owners—real-estate investor Philip …

Article source: http://online.wsj.com/article/SB10001424052748703703304576297112131668244.html?mod=googlenews_wsj

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