The auctioning off of the Helmsley Park Lane Hotel by the estate of the late Leona Helmsley was supposed to spark a bidding war on Central Park South and grand visions of a new 15 Central Park West, but that's not quite how things have turned out. Lois Weiss reports that bids are coming in around $200 million lower than the sellers expected, and they are in no rush to unload the 46-story tower. The hotel is booking stays through the end of next year, and, "Some bidders were considering condos but are wary of the low ceilings while others want to maintain it as a hotel." [NYP; previously]For more stories from Curbed, go to curbed.com.
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