1 Hotel Central Park

Overview

NYIF 1 CENTRAL PARK, LLC (“1CP”), a New York limited liability company, has been formed to invest in a project with sponsors from the New York Immigration Fund Regional Center (“NYIFund”). 1CP intends to provide preferred equity financing to be used for redeveloping a 18 story commercial office building into an upscale/luxury independent hotel called 1 Hotel Central Park, which is affiliated with the new 1 Hotel brand. The Project is owned by an affiliate of Starwood Capital Group Global, L.P.

1 Hotel is an eco-luxury brand that aims to combine environmentally sustainable architecture (LEED certified) and interior design with high-standards of service and luxurious comfort. The 1 Hotels concept was conceived by prominent hotelier Barry Sternlicht, the founder, Chairman and CEO of the Starwood Capital Group, who also pioneered the upscale boutique brand known as W Hotels.