 In 1987, The New School leased the building as a dormitory, housing primarily sophomore, junior and senior students enrolled at Parsons The New School for Design, Eugene Lang College The New School for Liberal Arts, Mannes College of Music, and the New School for Jazz and Contemporary Music.In 2012, it was bought and renovated by hotelier Sean MacPherson.The "baby grand hotel" was inspired by F. Scott Fitzgerald's "Tender is The Night".