Lake Placid, NY
A 5 star mixed use hotel/fractional project in Lake Placid, NY.
Client – Lehman Brothers (“Lehman”)
Engagement – Asset Management (Completed)
Total Capitalization – Over $80MM
Oversaw hotel operations and reduced hotel operating losses during 2009 and 2010. Worked with HOA management and unit owners to alleviate concerns over Lehman’s ownership interest. Successfully positioned the investment for sale in mid-2010.