New York City is turning one of their most treasured buildings into a luxury hotel! The Daily News exclusively reported Monday that Italian real estate conglomerate The Sorgente Group bought a majority stake in the landmark. It plans to gradually take over the rest and transform the office space into a hotel. The landmark structure's conversion is being welcomed by New Yorker City dwellers who understand the need for more hotel space in their crowded city. Sure the project will be a decade away but we can already picture ourselves checking out our hotel room view!