Radisson Martinique on Broadway (formerly Holiday Inn Martinique) 49 West 32nd Street New York, NY 10001 Cafe Martinique looking out to Broadway ------ Developer William R. H. Martin built The Hotel Martinique which was designed by Henry J. Hardenbergh. It was built with French chateau elements in phases from 1897-1911. The architect Hardenbergh also designed the original Waldorf Hotel and Astoria Hotels, as well as the Plaza in NYC and the Willard (1906) in Washington, DC, and the Copley Plaza (1912), in Boston, MA. He was best known as the architect for The Dakota on Central Park West. The Martinique was named after its original owner William R. H. Martin. At his death in 1912, Martin's property holdings were estimated to be worth more than $10,000,000, and included the Martinique Hotel and the Marbridge Building. According to emporis.com the sixteen-story French Renaissance styled building capitalized on the openness made possible by Greeley Square, to show off the building's mansard roof, with its towers, and ornate dormers. Despite having been built in three sections, the hotel maintains a harmonious street presence on all three facades. Department store owner Rodman Wanamaker invited some 35 prominent golfers, including Walter Hagen, the 1913 U.S. Open champion Francis Quimet and golf course architect A.W. Tillinghast, to a luncheon at the Taplow Club in the Hotel Martinique in New York City on Jan. 17, 1916. This exploratory meeting resulted in the formation of The PGA of America. In the 50's, it was one of the few in the city to still offer rooms without baths. No hotel epitomized New York's bad old days like the Martinique, on 32nd and Broadway. The Martinique Hotel, owned by Martinique Hotel Affiliates Inc., was used as a welfare hotel from 1973 to 1988. The writer Jonathan Kozol reported that in the late 1980's Salvatore Tuccelli, a part owner of the Martinque Hotel, managed the hotel with the assistance of a gun in his belt. New York City, using its own funds, plus state and Federal aid, spent about $1,500 a month to keep 400+ homeless families in the Martinique. In 1988 Mayor of NYC, Ed Koch pledged to empty the Martinique and 46 other hotels it used to house the homeless by July 1990. The Martinique Hotel was chosen to be first, because it was one of the biggest hotels, and a target of complaints in the neighborhood and because it had become a symbol of the horrors of a system that paid exorbitant sums to warehouse families in shabby, crowded hotels. In 1988 the city was paying $1,800 to rent one room for a family of four per month. On May 5, 1998, the Hotel Martinique was granted landmark status by the New York City Landmarks Preservation Commission. The Martinique on Broadway, underwent a major renovation program in 1996-1998 converting it from a 650- SRO Hotel into a 18-story 532-room first class, full service hotel, with 20,000 square feet of meeting and ballroom space and 15,000 sq. ft. of retail space at ground level. The property is currently being operated as a Radisson Hotel, and managed by Thurcon Properties Ltd. Information obtained from Credit Suisse First Boston Prospectus dated October 12, 1999: On October 27, 1998 Herald Hotel Associates, L.P. obtained a $36 million loan at 8.5% interest from Credit Suisse First Boston. Harold Thurman, a New York area real estate developer is the principal of the limited partnership. The load is secured by a first priority lien on the Holiday Inn Broadway, 18-story 531 room hotel at 1260 Broadway, New York, New York which is managed by Thurcon Properties, Ltd. Thurcon's management fee is 5% of gross revenues, subordinated to the CSFB loan. The Holiday Inn franchise agreement is effective June 26, 1996 for a term of 20 years. The Holiday Inn franchise fees include a royalty of 5% of gross revenues, a marketing contribution of 1.5% of gross revenues, a reservation contribution of 1% of gross revenues, and a monthly reservation fee of $6.43 per room. A 2006 press release issued by Carlson Hotels reported: "The New York Martinique Hotel located on 32nd Street and Broadway will be reflagged by manager/owner by Harold Thurman (aka Herald Hotel Associates, L.P )as the New York Martinique Radisson Hotel July 1,2006 after undergoing extensive renovation which will cost upwards of $10 million. Renovation of the 330,000 s/f hotel includes the addition of flat screen televisions, new furnishings to guest rooms, the extensive remodeling of the lobby, and the construction of a French Brasserrie, a gym and a private club called the Martinique club, exclusively for executives. Some of the renovation was completed in June 2006. Anticipated completion date for the rest of the hotel is January 2007. The reflagging means that the hotel will take on the new name and have access to Radisson's member services in exchange for their agreement to operate according to the Radisson standards. The 532 room Radisson Martinique, which was bui

Radisson Martinique on Broadway (formerly Holiday Inn Martinique) 49 West 32nd Street New York, NY 10001 The Empire State Building looms behind the Radisson Martinique ------- Developer William R. H. Martin built The Hotel Martinique which was designed by Henry J. Hardenbergh. It was built with French chateau elements in phases from 1897-1911. The architect Hardenbergh also designed the original Waldorf Hotel and Astoria Hotels, as well as the Plaza in NYC and the Willard (1906) in Washington, DC, and the Copley Plaza (1912), in Boston, MA. He was best known as the architect for The Dakota on Central Park West. The Martinique was named after its original owner William R. H. Martin. At his death in 1912, Martin's property holdings were estimated to be worth more than $10,000,000, and included the Martinique Hotel and the Marbridge Building. According to emporis.com the sixteen-story French Renaissance styled building capitalized on the openness made possible by Greeley Square, to show off the building's mansard roof, with its towers, and ornate dormers. Despite having been built in three sections, the hotel maintains a harmonious street presence on all three facades. Department store owner Rodman Wanamaker invited some 35 prominent golfers, including Walter Hagen, the 1913 U.S. Open champion Francis Quimet and golf course architect A.W. Tillinghast, to a luncheon at the Taplow Club in the Hotel Martinique in New York City on Jan. 17, 1916. This exploratory meeting resulted in the formation of The PGA of America. In the 50's, it was one of the few in the city to still offer rooms without baths. No hotel epitomized New York's bad old days like the Martinique, on 32nd and Broadway. The Martinique Hotel, owned by Martinique Hotel Affiliates Inc., was used as a welfare hotel from 1973 to 1988. The writer Jonathan Kozol reported that in the late 1980's Salvatore Tuccelli, a part owner of the Martinque Hotel, managed the hotel with the assistance of a gun in his belt. New York City, using its own funds, plus state and Federal aid, spent about $1,500 a month to keep 400+ homeless families in the Martinique. In 1988 Mayor of NYC, Ed Koch pledged to empty the Martinique and 46 other hotels it used to house the homeless by July 1990. The Martinique Hotel was chosen to be first, because it was one of the biggest hotels, and a target of complaints in the neighborhood and because it had become a symbol of the horrors of a system that paid exorbitant sums to warehouse families in shabby, crowded hotels. In 1988 the city was paying $1,800 to rent one room for a family of four per month. On May 5, 1998, the Hotel Martinique was granted landmark status by the New York City Landmarks Preservation Commission. The Martinique on Broadway, underwent a major renovation program in 1996-1998 converting it from a 650- SRO Hotel into a 18-story 532-room first class, full service hotel, with 20,000 square feet of meeting and ballroom space and 15,000 sq. ft. of retail space at ground level. The property is currently being operated as a Radisson Hotel, and managed by Thurcon Properties Ltd. Information obtained from Credit Suisse First Boston Prospectus dated October 12, 1999: On October 27, 1998 Herald Hotel Associates, L.P. obtained a $36 million loan at 8.5% interest from Credit Suisse First Boston. Harold Thurman, a New York area real estate developer is the principal of the limited partnership. The load is secured by a first priority lien on the Holiday Inn Broadway, 18-story 531 room hotel at 1260 Broadway, New York, New York which is managed by Thurcon Properties, Ltd. Thurcon's management fee is 5% of gross revenues, subordinated to the CSFB loan. The Holiday Inn franchise agreement is effective June 26, 1996 for a term of 20 years. The Holiday Inn franchise fees include a royalty of 5% of gross revenues, a marketing contribution of 1.5% of gross revenues, a reservation contribution of 1% of gross revenues, and a monthly reservation fee of $6.43 per room. A 2006 press release issued by Carlson Hotels reported: "The New York Martinique Hotel located on 32nd Street and Broadway will be reflagged by manager/owner by Harold Thurman (aka Herald Hotel Associates, L.P )as the New York Martinique Radisson Hotel July 1,2006 after undergoing extensive renovation which will cost upwards of $10 million. Renovation of the 330,000 s/f hotel includes the addition of flat screen televisions, new furnishings to guest rooms, the extensive remodeling of the lobby, and the construction of a French Brasserrie, a gym and a private club called the Martinique club, exclusively for executives. Some of the renovation was completed in June 2006. Anticipated completion date for the rest of the hotel is January 2007. The reflagging means that the hotel will take on the new name and have access to Radisson's member services in exchange for their agreement to operate according to the Radisson standards. The 532 room Radisson Ma