Description
Discover a rare opportunity to acquire a landmark boutique hotel, held in fee simple ownership, ideally located in the heart of Midtown Manhattan, just steps from Times Square, Bryant Park, Fifth Avenue shopping, and Grand Central Terminal.
This property, free of brand and management, represents a unique repositioning opportunity in one of the most dynamic and resilient hospitality markets in the world.
Property Highlights
- Historic 13-story building featuring 168 guestrooms, including several luxury suites
- Through-block design with dual entrances on two streets
- Approximately 10,000 sq. ft. of restaurant, bar, and lounge areas, currently closed but fully equipped and ready for reactivation
- Building area: ±103,750 sq. ft.
- Site area: ±10,000 sq. ft.
- FAR (Floor Area Ratio): 12x for commercial use, with 16,768 sq. ft. of unused FAR
- Year built / last renovated: 1898 / 2007 The hotel, which has capital expenditure, could be upgraded to 4*+ or become a 5* hotel.
A Storied Asset with Remarkable Potential
An enduring symbol of New York sophistication, this property has hosted a distinguished clientele since the late 19th century.
Originally conceived as a residential hotel, it was reimagined in the late 1980s by a world-renowned design team, becoming one of Midtown’s most stylish and influential boutique hotels.
Today, it offers an investor the opportunity to revive its prestige through:
- A comprehensive renovation and design refresh,
- The reopening of its F&B venues, and
- A strategic repositioning aligned with the upscale lifestyle and boutique market segment.
Investment Highlights
Prime Midtown Manhattan Location
Nestled along “Club Row,” at the center of Manhattan’s leading office corridor, surrounded by major developments totaling over $11 billion and 6 million sq. ft. of new office space around Grand Central Terminal.
Historic and Iconic Heritage
A true New York landmark, representing over a century of style, culture, and architectural significance.
Flexible Strategic Repositioning
Unencumbered by brand or management—allowing for operation as an independent boutique or under an international flag to leverage global distribution, loyalty programs, and marketing power.
Underutilized Food & Beverage Spaces
Nearly 9,000 sq. ft. of ground-floor restaurant and lounge areas, offering significant upside potential as high-end dining, bar, or event spaces.
Conversion & Expansion Potential
The property includes nearly 17,000 sq. ft. of unused development rights (FAR) and the flexibility for potential conversion into residential units, private club, timeshare, or extended-stay use.
Asking Price: USD 45,000,000 net seller –
A rare off-market opportunity to acquire a historic flagship hotel in the global capital of hospitality, business, and culture.
Exposures
East
North
South
West