Peter J. Sharp, 61; N. Y. Hotel Owner

Peter Jay Sharp, scion of a New York hotel and real estate family who headed his own company, Peter Sharp & Co., died of cancer Friday in New York. He was 61.

In 1988, Sharp was tied for 268th place on Forbes magazine’s list of the 400 richest people in the United States.

After graduating from Princeton University and serving in the Navy, Sharp began his career as an executive with the family’s Sharp Ltd. Hotels. After he started his company, Sharp bought the prestigious Carlyle Hotel on Park Avenue.

He left the family hotel business to join Douglas Elliman and Co., and rose to chairman and chief executive officer.

As head of Peter Sharp & Co., he built such office buildings as 450 Park Avenue in New York and restructured land development companies such as Chicago Milwaukee Corp. and Avatar Holdings.

Sharp is survived by his mother, Evelyn Sharp; a son, Peter; two daughters, Caroline Mary and Randall Allison, a sister and two grandchildren.