 In 2012, Starwood Capital Group also purchased $30.82 million of air rights for construction of their Baccarat Hotel and Residences next door at 20 West 53rd Street.In July 2012, Vornado additionally agreed to buy the rest of the retail space from Carlyle, paying $707 million for their remaining stake.The next month, Miami-based law firm Akerman LLP leased on the 19th and 20th floors of the building.