The Real Deal New York

Hidrock files plans for new 31-story Midtown hotel

Developer planning 161-key project at 12 East 48th Street

June 10, 2016 04:20PM
By Rey Mashayekhi

12 East 48th Street

12 East 48th Street in Midtown (inset: Abraham Hidary)

Hidrock Properties is planning a new 161-room hotel on a Midtown assemblage it acquired for $47 million, according to property records filed with the city Friday.

Financial District-based Hidrock filed plans for a 116,000-square-foot, 31-story hotel at 12 East 48th Street. The family-led development firm, led by CEO Abraham Hidary, acquired the three commercial buildings that comprised the assemblage in 2014, beating out several competitors and drawing up initial plans to build a condominium building on the site.

But Hidrock now appears set to follow the lead of the properties’ former owner, Atlanta-based City Centre Properties, by putting up a hotel featuring amenities including a gym and a courtyard, according to the filing. There will also be nearly 3,000 square feet of ground-floor retail space.

Neither Hidrock nor Handel Architects, the project’s architect of record, returned requests for comment.

Hidrock recently topped out another Midtown hotel development at 60 West 37th Street – a 310-suite Embassy Suites by Hilton that it built in partnership with the Buccini/Pollin Group. The firm is also planning a contentious condo conversion of the historic Pavilion Theater in Park Slope.

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