The Real Deal New York

Hotelier Shimmie Horn inks $33M lease deal for UWS hotel

October 06, 2011 05:56PM
By Adam Pincus

Hotel operator Shimmie Horn inked a 40-year renewal lease valued at $33 million for the landmarked Hotel Belleclaire at 250 West 77th Street on the Upper West Side.

The lease, with property owner Lophijo Realty, was signed Sept. 21 and filed with the city on Tuesday, property records show.

Horn has operated a 242-room hotel at the highly-ornamented Emery Roth-designed building, at Broadway, since he first signed a lease in 1999. The new agreement extends the lease, which was set to expire this year, to June 2051. Included in the lease is an option to purchase the building, which can be exercised between 2026 and 2051, property records show.

Horn, through a spokesperson, declined to comment.

Roth designed the 10-story, 121,000-square-foot building, which was completed in 1903, as an apartment hotel, which used to provide, both temporary and permanent residences, with restaurant services but without kitchens, in the Art Nouveau-Secessionist style. The city designated the building a landmark in 1987.

Horn through his Triumph Hotels owns and operates four hotels in Manhattan. Weekend rates at the hotel start at about $350 per night, the company website shows.

Earlier this year, Horn filed plans with the city Department of Buildings that would allow him to convert 400 McGuinness Boulevard in Greenpoint to a homeless or transient shelter. The plans are under review, DOB’s website shows.

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