The Real Deal New York

Marmara Park Avenue to open at 114 East 32nd Street

Rooms in 128-key boutique hotel will start at $550 per night
May 30, 2014 05:45PM

UPDATED, 4:12 p.m., June 25: The Marmara Park Avenue, the Turkish hotel chain’s second outpost in New York City, is gearing up to open soon.

Rooms in the 128-key boutique hotel at 114 East 32nd Street will start at $550 per night. Of those units, 40 boast private terraces and three are penthouse units.

Petra Capital Management sold the property to Marmara in early 2012 for $55 million, as The Real Deal reported at the time. Prior to that sale, Petra took control of the property after developer and Harch Group founder Harry Jeremias defaulted on a $95 million loan for an unfinished Ismael Leyva-designed Jasper condominium on the site. [Curbed] and [WSJ]Julie Strickland