The transaction would be the second-largest deal for a single hotel in the U.S.
A new study examines the downsizing trends of the top 25 national retailers at malls across the U.S.
The bank is providing a $850 million loan for the project at a time when lenders are wary of new Manhattan projects.
First-quarter property sales sunk 58 percent in New York as fears mounted that the city is overbuilt.
“We need more affordable product in the market," said real estate investor Richard LeFrak.