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Jho Low-linked New York hotel fails to draw any bid near US$1b price

Dearth of offers reflects softness of real estate market, particularly at upper end

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"I think it's the world's greatest site for development. The problem was timing." Jeffrey Davis, director of the hotels and hospitality group at JLL, on the Park Lane Hotel (above)

New York

WHAT if they held an auction and nobody bid?

Last week, offers were due in the auction of the 47-storey Park Lane Hotel on Central Park South, which sits on what the seller argues is one of the best locations in the world, a stretch of Midtown Manhattan that has become

sentifi.com

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