The Real Deal New York

Kash to convert Midtown alumni club to extended-stay hotel

September 18, 2013 05:53PM

The Kash Group is closing the chapter on the Williams Club as an events venue and lodging space for Williams College alumni. Instead, it will become an extended-stay hotel.

The firm plans to pump $11 million into the conversion at 24 East 39th Street in Midtown East. The hotel will have 33 rooms that can each be rented for at least 30 days at a time. Most of the rooms will come with full kitchens. Las Vegas-based Warner Hospitality will be managing the hotel — the company’s first in the New York area.

“We believe the extended stay market is under-served,” Shlomo Bakhash, president of Kash Group, told Crain’s.

Bakhash purchased the 30,000-square-foot site for $9 million in June 2012, then tried to flip it the following month, as previously reported. [Crain’s]Mark Maurer