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Made in Italy, goodbye Manhattan: the luxurious 400 Fifth Avenue hotel complex becomes Asian

The prestigious real estate complex, including the Hotel Setai (which hosted Monti on the occasion of the last UN summit), was sold by the Italian Bizzi & Partners Development to the Asian Great Eagle, owner of the luxury brand Langham Place, for 229 million dollars – Bizzi: “They will further improve our product”.

Made in Italy, goodbye Manhattan: the luxurious 400 Fifth Avenue hotel complex becomes Asian

The last time as a symbol of made in Italy in America will have been on the occasion of themeeting last September 24-25 between Mario Monti and Barack Obama, on the sidelines of the UN summit in New York.

The Italian premier had in fact stayed in those days, as well as the French president François Hollande, in theHotel Setai Fifth Avenue, within the luxurious 400 Fifth Avenue complex, still owned for a few weeks by Bizzi & Partners Development, an Italian real estate company based in Sesto San Giovanni, where it is now overseeing the large project of the former Falck areas.

Bizzi announced that 400 Fifth Realty LLC has entered into a agreement with the Great Eagle Group for the sale of the 214 rooms of the prestigious hotel in the heart of the Big Apple, for the sum of 229 million dollars. Starting from January 2013, the Setai will therefore change sign and become Langham Place, a renowned luxury brand belonging to the Langham Hospitality Group, one of the main hotel groups in Southeast Asia.

“400 Fifth Avenue combines the best of contemporary luxury and high quality services inside – he said Davide Bizzi, President of Bizzi & Partners Development –: we are therefore honored to entrust ourselves to a prestigious operator in the hotel sector that encompasses these characteristics. The amenities offered by Langham Place are a perfect fit at 400 Fifth Avenue, further enhancing our real estate proposition."

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