Assignment
Trimont was engaged on multiple assignments by a European investment bank and a European insurance company to provide asset management and servicing on $191 million of senior and subordinate loans.
Asset
The Stanhope Apartment Hotel originally opened in 1927 under the ownership of the 955 Fifth Avenue Corporation. The 16-story building located across Fifth Avenue from Central Park and the Metropolitan Museum of Art was originally a hotel, but was converted to a residential coop in 2005 and renamed simply, The Stanhope. Rosario Candela who achieved renown through his many apartment building designs in New York City during the boom years of the 1920s designed the building. Candela was credited with defining the city’s characteristic terraced setback and signature penthouses.
Insights
- Jazz musician, Charlie Parker, died in the suite of Baroness Pannonica de Koeningswarter (a leading patron of bebop music).
- When the hotel was still in operation, it housed a famous restaurant and cabaret called the Melrose Room, which was notable because guests had to walk through the kitchen to get to the dining room.