Drake Hotel (New York City)

The Drake Hotel was a hotel located at Park Avenue and 56th Street, New York, NY.

The hotel was built in 1926 by the real estate organization of Bing & Bing. It was a 21 floor complex with 495 rooms. "It boasted innovations such as automatic refrigeration as well as spacious, luxurious rooms and suites." Fauchon chocolates was located on the ground floor.

Silent film star Lillian Gish lived at the hotel from 1946-1949. Other notable guests included Frank Sinatra, Muhammed Ali, Judy Garland, Jimi Hendrix and Glenn Gould. Restauranteur Toots Shor lived there in his final years. Songwriter Jerome Kern collapsed on the sidewalk in front of the Drake on November 5, 1945.

In the 1960s and 1970s the Drake Hotel was the preferred accommodation in New York for a number of touring rock bands, such as Led Zeppelin and The Who. During their stay there in 1973, Led Zeppelin had $203,000 stolen from a safe deposit box at the hotel. The money was never recovered and the identity of the thief or thieves has never been discovered. The band later sued the Drake Hotel for the theft.The British rock band Slade stayed at the hotel on 6 October 1973 - after their gig at the New York Academy of Music. Shepheard's was touted as the most fashionable nightclub of the time, where people like Lee Radziwill and Julie Newmar danced The Frug to a live disc jockey.

The hotel was acquired in the early 1980s by the Swissotel company of Zurich, which undertook a $52 million room-by-room renovation of the building. Renovations were completed in 1991. In 2006 the hotel was sold for $440 million to developer Harry Macklowe. It was demolished in 2007. The site became one of New York's most valuable development sites in 2011. In mid-2012, 432 Park Avenue, a planned Vorlage:Convert residential skyscraper that is expected to become the second-tallest building in New York City upon completion, began construction on the site.