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(NYT) — It’s crunch time for Aby Rosen, the real estate developer known for blending his properties with his flashy style and world-class art collection.

Mr. Rosen is negotiating an end to his partnership in the Gramercy Park Hotel with hotelier Ian Schrager, who transformed the century-old hotel with a redesign that includes contemporary artworks by artists such as Andy Warhol and Damien Hirst. In his battle to hold onto the boutique hotel, Mr. Rosen also is buying back a $140 million loan on the building from Union Labor Life Insurance for about $90 million, people with knowledge of the situation say.

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