Hotel/Retail MUD Planned For Stock Exchange Building

NEW YORK—Developers plan to convert the former American Stock Exchange building in the financial district here to a mixed-used project with hotel and retail components.

Michael Steinhardt and Allan Fried acquired the historic building along with an adjoining structure for $65 million.

They plan a 174-room boutique hotel on top of the retail portion of the development.

News of their plan was first reported in The Wall Street Journal.