A group of Middle Eastern investors, including Arab and Iranian partners, have offered to buy for $50 million three big Manhattan hotels–the Barclay, the Biltmore and the Roosevelt–owned by the bankrupt Penn Central Transportation Co. The bid was made at a hearing last Thursday in U.S. District Court here which is directing the reorganization of Penn Central under bankruptcy laws. Gerald Parsky, managing partner of the Washington offices of Los Angeles-based Gibson, Dunn and Crutcher, made the offer for Halad International, which is based in The Netherlands; Biltmore Hotel Associates and Realty Hotels, which operates the three hotels.
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The Archive of the Jewish Telegraphic Agency includes articles published from 1923 to 2008. Archive stories reflect the journalistic standards and practices of the time they were published.
