Billionaire Leon Charney , has sold a development site at 120 West 41st Street to Stanford Hotels, a source close to the deal told The Real Deal. 

Stanford, which operates Hilton, Marriott and Sheraton hotels all over the country, paid $19.5 million for the property in a deal that closed late Thursday, the source said. The company is said to be planning a 125-room hotel on the site, assembling air rights from a nearby theater. The acquisition is Stanford's first foray into the New York market.

Charney, a real estate developer who was once President Jimmy Carter's foreign policy adviser, had been planning a 22-story, $90 million boutique hotel at the site under an agreement with Minnesota-based Graves Hospitality. He and his partners in Charney-FPG purchased the

212-563-1500

Hours: Mon-Wed 6pm-2am, Thu-Sat 6pm-3am

According to their website: Go back to 1986 and experience the fascinating world of wine!

It may not be a big open-spaced bar as it is located on the second floor of Stanford Hotel, in the middle of Koreatown. However, it is a laid back and cozy place with a pleasant atmosphere. The wine menu, though not exhaustive, serves up a good selection of some fine wines from all over the world. It is an ideal place for anyone to sit back and relax, and couple themselves with lively conversations with family and friends.

Wines in the City was created in order to share smart ideas for wine enjoyment in New York City - with a social perspective. Its aim is to become the most comprehensive "What to know" and "Where to go" for wine in the city.

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