Parkview purchased, owned and managed the Carnegie Hotel in its original location on West 58th Street, steps from Columbus Circle and Central Park. Under Parkview's management, the all-suites hotel maintained an occupancy rate of nearly 100%.
After just a few years, Parkview sold the property for more than twice its original purchase price, and the hotel business moved to a new location.
The underlying property was part of Parkview's plans for Parkview Tower, a residential condo development. An different version of that concept was realized by purchaser Vornado at 220 Central Park South, now one of the world's most prestigious residential addresses.