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In January 2006, the hotel's owner, Host Hotels & Resorts, was intending to sell the property "in the mid-$400 million range", primarily marketing the site with the prospect of replacing the aging hotel with a mixed-use skyscraper. [46] Harry Macklowe purchased the Drake in 2006 for $418 million [45] [47] (equivalent to $640 million in 2023 [b]).
The urban population, many living below the poverty level, was greatly affected by the 1989 intervention. As pointed out in 1995 by a UN Technical Assistance Mission to Panama, the fighting displaced 20,000 people. The most heavily affected district was the El Chorrillo area of Panama City, where several blocks of apartments were completely ...
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