REAL ESTATE: Statler to Zeckendorf

William Zeckendorf, whose deals have probably made him the No. 1 U.S. realtor, last week clinched his biggest deal yet. In Manhattan, President Arthur F. Douglas of the Statler Hotels announced that the board of directors had accepted an $80 million offer to sell out to Zeck-endorf's Webb & Knapp.

The deal would give Webb & Knapp, which already controls $250 million in property (including Manhattan's Chrysler Building), and has operated in 30 states, one of the choice hotel systems in the world. Founded by the late E. M. Statler in Buffalo in 1908, the chain is now the...

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