Soon after opening the hotel, Kalikow went into bankruptcy and was forced to sell the hotel. Kalikow built the hotel at a cost of $200 million and it opened in September 1992. He considered two plans-those for an office building and for a hotel-switching between the plans before finally deciding upon a hotel. Kalikow destroyed two smaller structures near the block's western boundary. The block bounded by Fulton, Church, and Dey Streets and Broadway, including 195 Broadway, was sold for $70 million to Peter Kalikow. In 1984, AT&T moved out of its adjacent headquarters at 195 Broadway. The hotel's builder chose to intentionally misspell the name with one "n" as "Millenium" on the outdoor signage and official literature, even though the correct spelling of the English word is " millennium", in order to make the name more distinctive. The hotel was known for many years as the Millenium Hilton. The building is 55 stories tall, with a total of 471 guest rooms and 98 suites. The hotel is adjacent to 195 Broadway, with which it shares the block, and is located across Church Street from the World Trade Center. The Millennium Hilton New York Downtown is a Hilton hotel in Lower Manhattan, New York City, located at the southeast corner of Fulton Street and Church Street.