Moinian seeks joint venture partner for new Midtown hotel

TRD New York /
Aug.August 03, 2010 09:30 AM

Joseph Moinian is seeking a joint venture partner for a new hotel project at 237 West 54th Street, a vacant, five-story building he owns between Broadway and Eighth Avenue, according to the Post. Current zoning for the site allows for up to 144,000 square feet, and Moinian is angling for a boutique hotel that would contain as many as 400 guest rooms. The block once looked to be poised for a development boom, with plans for a new Marriott Courtyard Hotel and Boston Properties office tower both in the works two years ago. Today, no plans have yet been filed for the Marriott project and Boston’s project has been “suspended” indefinitely, but the Moinian hotel stands to breathe new life into the block. Ross Mezzo of Marcus & Millichap, who is heading up Moinian’s joint venture offering, declined to state an asking price for the partnership because he said there are many ways a joint venture could be structured. [Post]

 

Related Articles

arrow_forward_ios
Owen Thomas (Photo by Axel Dupeux)

The Closing: Owen Thomas

181 Varick Street (Credit: Google Maps)

Claremont Companies buys Soho Marriott for $59M

Union Square W Hotel at  201 Park Avenue South (Credit: Wikpedia)

Marriott buys Union Square W Hotel

WeWork's co-CEO Sebastian Gunningham speaks at the launch of Dock 72

What, We Worry? Execs remain confident in WeWork-anchored Brooklyn project

Divco’s Stuart Shiff and Boston Properties’s Owen Thomas with 540 Madison Avenue

DivcoWest expands Big Apple footprint with Madison Ave office buy

OYO Hotels CEO Ritesh Agarwal and OYO Townhouse in Dallas, Texas (Credit: OYO Hotels and Getty Images)

Indian hotel startup to launch in NYC, LA with $300M US investment

Owen Thomas (Photo by Axel Dupeux)

Will Boston Properties’ latest real estate bets withstand a downturn?

Lyric founders Andrew Kitchell and Joe Fraiman and a Lyric-managed unit in Houston

Startups and hospitality giants are embracing “apartment hotels”

arrow_forward_ios
Loading...