New York Times -- Orient-Express Hotels Ltd. has told the New York Public Library that it is unable to complete the purchase of the Donnell branch, right, in Midtown for $59 million, the library said Monday. “We are now evaluating various alternatives to ensure that Orient Express honors its commitment to the library,” said Herb Scher, a library spokesman. Under the original agreement, announced in November 2007, the five-story building on West 53rd Street was to be replaced by an 11-story hotel. The library would own and occupy space on the first floor and underground, and five floors of the hotel would connect to the “21” Club on 52nd Street, also owned by Orient-Express. The hotel company said in a statement: “The global financial crisis and the lack of availability of credit for construction and real estate development means that progress cannot be made on the project at the present time.”
