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From left: Ben Ashkenazy and the Nylo New York City Hotel at on the Upper West Side Ashkenazy Acquisition Corp. Picked up the Nylo New York City Hotel on the Upper West Side for north of $140 million, or about $500,000 per key, sources told The Real Deal. The seller, a trust affiliated with the defunct global investment bank Lehman Brothers, had been for the 16-story, 291-key hotel at and West 77th Street since 2014. The four-star hotel, formerly known as On the Ave, was rebranded in 2013 as part of the Dallas-based brand Nylo Hotels. In 2011, Lehman Brothers took control of it through a deed in lieu of foreclosure in a deal valuing the building at $191.1 million, property records show. Then, the firm put in about $20 million for renovations. Room rates at the hotel start at $149 per night, according to the Nylo website.

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The building also houses Italian restaurant Serafina and Chinese eatery RedFarm. It was not immediately clear what is planning for the property., who represented the seller in the Nylo deal, marketed it as a possible residential conversion. Harmon declined to comment, as did a spokesperson for Lehman Brothers. The Ben Ashkenazy-led, Midtown-based, development firm led is no stranger to hotel assets. The firm bought the 35-story, 655-key last year for $290 million. A representative for Ashkenazy Acquisition couldn’t be reached.

Elsewhere in the city, is shopping around two hotels in its new – 1 Hotel Central Park and the as-yet-incomplete 1 Hotel Brooklyn Bridge.

You have reached a degraded version of ESPN.com because you're using an unsupported version of Internet Explorer. For a complete ESPN.com experience, please upgrade or use a Associated Press 560d Adelina Sotnikova won't defend Olympic figure skating gold medal in Pyeongchang, MOSCOW -- The coach of Adelina Sotnikova says the Olympic figure skating champion will not defend her title at next year's Winter Games in Pyeongchang because of injury. 'Adelina Sotnikova will not compete this season because of injury,' her coach Evgeni Plushenko, a two-time Olympic gold medalist, said in comments reported by Russian agency R-Sport. 'We all hoped we'd get this injury cured, but unfortunately it hasn't happened. The injury is still causing problems, [Sotnikova] can't manage full training sessions, and it's not right to go to competitions in this state.' Plushenko didn't specify what injury was troubling Sotnikova, though the Russian has been struggling with ankle problems. He added that the announcement shouldn't be seen as Sotnikova's retirement from skating.

Sotnikova was a surprise gold medalist in 2014, beating South Korea's Yuna Kim amid intense debate over the judging. Sotnikova hasn't competed at a major championship since because of injuries and a heavy schedule of commercial performances and TV work, including the Russian version of 'Dancing with the Stars.' In April, she split with longtime coach Elena Buyanova to join Plushenko, who had only recently retired. © 2019 ESPN Internet Ventures.

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