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by Lisa A. Grimaldi | August 17, 2012

Strategic Hotels & Resorts has signed an agreement to purchase New York City’s 509-room Essex House Hotel from the Dubai Investment Group for $362 million. The  company also has signed a 50-year management agreement with Marriott International to rebrand the iconic hotel as the JW Marriott Essex House New York. The property, across from Central Park, has 12 meeting rooms and a spa, as well as nine condominium units.