The New York Palace, erected in 1894 on the commission of the New York Insurance company, is one of the most beautiful eclectic residential buildings of Budapest. The New York Café on the ground level was a cultic scene of the Hungarian artists' life in the early 20th century: the most prestigious literary magazine, Nyugat had its own table, Sándor Korda (Sir Alexander Korda), who later became a legend in Great Britain, launched the first Hungarian cinema newspaper here, and this was the favorite Budapest café of Mihály Kertész (Michael Curtiz) director who later immigrated to the United States and won an Academy Award for Casablanca. The building deteriorated gradually after the war due to the lack of maintenance, and it was bought in 2001 by the Italian Boscolo Group that renovated it to create a luxury hotel. The restoration of the building and of the café space earned the Budapest Architectural Award (Budapest Építészeti Nívódíja). Maurizio Papiri and Adam D. Tihany were involved in the interior design. The hotel of 107 rooms is being expanded towards the rear part of the block and Rákóczi avenue according to Massimo Iosa-Ghini?s plans.