(In second paragrpah please read "sold by Dubai Investment
Group" not Jumeirah, and in second paragrpah plese omit
By Ilaina Jonas
NEW YORK Aug 14 Strategic Hotels & Resorts Inc
has agreed to buy the well-known New York hotel Jumeirah
Essex House for about $375 million, a source familiar with the
matter said on Tuesday.
The deal for the 509-room Art Deco hotel on Central Park
South was sold by Dubai Investment Group and is expected to
close within a month, the source said.
Dubai Investment Group bought the Essex House in 2005 for
$423.9 million, according to real estate research and
information company Real Capital Analytics. Jumeirah then spent
about $90 million to refurbish it, the hotel said on its
(Reporting By Ilaina Jonas; editing by M.D. Golan)