A spokeswoman for Connecticut-based Westport declined to comment. But Russel Bernard, a managing principal, previously said in a statement, "The Cooper Square Hotel now stands out as an iconic hotel that serves its guests and local community in style and comfort. The hotel has been well received in the marketplace and we expect it to enjoy continued success under the leadership of André Balazs and his team. This investment stands out as a classic example of how Westport seeks to reposition real estate, protect investor capital and create value through opportunistic financial restructuring."

Westport said that operating income at the hotel increased over 60 percent between 2010 and 2011. The 145-room hotel has nightly rates of around $300 to $400, but the previous owners ran into financial trouble after it opened in 2008. In December 2009 , lender WestLB moved to foreclose on $52 million in debt, and construction contractors also sued for $9.9 million.

After we posted yesterday's ratfink apex of the devise for the new Cooper Square Hotel prosperous up on The Bowery, an interested ratepayer sent us this wonderful-hush-hush delineation of the fleche that's rising on that locality. Er, wow. So that's what Studio Carlos Zapata seems to have in put by for that causticity of the East Village. Once Cooper Coalition's old Hewitt Erection comes down across the passage and Thomas Mayne's new Psychedelic Discretion Ch goes up in its rooms, this draw will be a virtual obstruction of vivacious lambent lens—a whole game for the Avalon'd expand of the Bowery several blocks south.

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