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According to Crain’s, a deal with a group including Tommy Hilfiger that intended to buy to buy the MetLife Clock Tower building adjacent to Madison Square Park, has collapsed, reportedly due to financing and other issues.

The plan was originally reported to be that Hilfiger and JSR Capital would buy the famous building and turn at least a portion of it into a hotel.

The building has been the subject of several proposed plans in the past, including very large (4,000+ square foot) ultra-high-end condos designed by Donatella Versace, and then revised to be condos about half the size with a new designer involved.

The historic building was built in 1909 and was at one time the world’s tallest building.

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