Built in 1926 and developed by William Randolph Hearst , the Lombardy Hotel is an elegant prewar building set in an ideal location in midtown. Located on 56th Street between Park and Lexington, the Lombardy’s chief distinguishing characteristic is that while it is a co-op, it has an open rental and owner usage program. One can choose to participate in the hotel program and each suite is individually owned and decorated, making it a unique investment property. There are 154 1-, 2 – and 3- bedroom suites as well as some studios available in addition to apartments where owners are in permanent residence. The elegant lobby was renovated in 2012 and amenities include: a 5-star restaurant: Harlow opened by Ritchie Notar (of Nobu), Ninth Street Espresso, a beauty salon, spa, valet/dry cleaning services, a seamstress, gym, maid service and a business center.