The eleven-story building was built by Eli P. Clark.[3] It was completed in 1914.[3] It was a 555-room hotel.[1] Later, the hotel turned into a low-rent apartment building.[3]
It was acquired by JCG Financial Co.,[3] followed by Sunday Inn Inc.. When they tried to evict the tenants and turn it into a luxury hotel again in 1979, the tenants filed a lawsuit accusing them of harassment and won.[3] A decade later, in 1988, the building was acquired by the People's Republic of China under the company name of May Wah International Enterprises.[1][3] Their goal was to turn it into "a Chinese business/cultural center".[1] While the historic facade was preserved, the interior was redesigned in the International Style.[3] When diplomatic relations between the US and China fizzled out, it was turned into a low-rent apartment building. When they tried to evict the residents to raise the rents, they were sued, leading to a US$1.7 million settlement.[5]
It is owned by the Chetrit Group, chaired by Joseph Chetrit. They have been remodelling it into a hotel since 2012.[6][7]
