Hidrock files plans for new 31-story Midtown hotel

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

New York /
Jun.June 10, 2016 04:20 PM

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.


Related Articles

arrow_forward_ios
Soho Properties chairman and CEO Sharif El-Gamal (Getty, Margaritaville)
Cheers: Soho Properties secures $317M refi on Times Square Margaritaville
Cheers: Soho Properties secures $317M refi on Times Square Margaritaville
Jason Pomeranc and 305 West 48th Street (CIVILIAN, Google Maps, Kelleecaitlin/Wikimedia)
Jason Pomeranc to launch new Theater District hotel
Jason Pomeranc to launch new Theater District hotel
The hotel on Rockaway Beach sold for $25 million (Google Maps)
Pandemic pricing arrives to middle of i-sales market
Pandemic pricing arrives to middle of i-sales market
Queens Councilman Francisco Moya (iStock, New York City Council)
City Council bill would force hotels to pay severance to laid-off workers
City Council bill would force hotels to pay severance to laid-off workers
AvantStay CEO Sean Breuner (AvantStay, iStock)
AvantStay launches brokerage arm
AvantStay launches brokerage arm
Hilton Grand CEO Mark Wang, 12 East 48th Street and Henry Silverman of 54 Madison Partners (Hilton, Rinaldi, 54 Madison)
Hilton timeshares arm buys distressed Midtown hotel for $58M
Hilton timeshares arm buys distressed Midtown hotel for $58M
Hyatt Hotels CEO Mark Hoplamazian and Apple Leisure Group Chairman Alex Zozaya (Hyatt, Apple Leisure Group)
Hyatt Hotels buys Apple Leisure Group for $2.7B
Hyatt Hotels buys Apple Leisure Group for $2.7B
Can Trump International Chicago bounce back?
Can Trump International Chicago bounce back?
Can Trump International Chicago bounce back?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...