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According to Crain’s, the developers of the MAvE Hotel (62 Madison Avenue at 27th Street). This latest move postpones the auction of a piece of debt on the property. (Read the full story at Crain‘s)

The hotel does still appear to be open though ( and you can check rates and specials at

The boutique hotel opened in July 2009 just north of Madison Square Park and was one of the first of a string of new boutique hotels planned for the area (Ace Hotel, Nomad hotel, Flatiron Hotel).

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