1999, the hotel was purchased by Hyatt Hotels for $65 million. At that point, the hotel also paid $2 million annually to the estate of Sol Goldman, which owned the leased ground on which the structure sat. Hyatt renamed the property The Stanhope, A Park Hyatt Hotel, and then later The Stanhope Park Hyatt New York. The hotel's cabaret was revived as the Melrose Room, featuring talents including pianist Steve Ross and soprano Anna Bergman. It ceased operation as a hotel on January 13, 2005. It was converted to co-op that year and first operated as The Stanhope, later changed to 995 Fifth Avenue. Notable people Famous residents Daphne Guinness Pannonica de Koenigswarter Famous deaths 1946: Kiki Preston (née Alice Gwynne), plunged out a window. 1955: Charlie Parker, in the suite of Nica de Koenigswarter. See also List of former hotels in Manhattan References External links Hotel buildings completed in 1926 Fifth Avenue Residential buildings in Manhattan Companies that filed for Chapter 11 bankruptcy in 1988 Hotels established in 1927 Hotels disestablished in 2005 Rosario Candela buildings Defunct hotels in Manhattan Upper East Side