Schrager Plans Midtown Hotel | nypost.com

HOTEL king Ian Schrager has just worked out an agreement with Norman Sturner to turn the current, Class B office building at 1414 Avenue of the Americas into not just a two- or three-star establishment, but a "six-star" luxury Ian Schrager Hotel. "We will empty the property and let him do his magic," said Sturner of Schrager. Sturner's own job, he said, is to be the "owner.