Manhattan hotel reopens as homeless shelter despite protest from Billionaires Row residents

The residents spent over $300,000 in lawsuits claiming crime and loitering' by the occupants would lead to irreparable injuries'

Just a few steps away from the horse-drawn carriages that whisk tourists through New York's Central Park and the opulence of the Plaza Hotel is an unassuming building on a quiet block in midtown Manhattan.

The building is marked by an awning that reads Park Savoy Hotel". Nestled in between a 24-hour parking structure and an apartment building on a predominantly residential street, the Park Savoy blends in with the other hotels in the neighborhood.