Hidrock files plans for new 31-story Midtown hotel

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

TRD 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
Alex Sapir and the NoMo Soho hotel at 9 Crosby Street (Credit: NoMo SoHo)

Sapir Corp.’s stock drops in Tel Aviv

181 Varick Street (Credit: Google Maps)

Claremont Companies buys Soho Marriott for $59M

Rendering of the Staybridge Suites at 38-59 11th Street

Long Island City hotel project moves forward with construction loan

Heritage Equity Partners’ Toby Moskovits, Benefit Street Partners real estate managing director Micah Goodman, and the Williamsburg Hotel at 96 Wythe Avenue (Credit: Google Maps)

Toby Moskovits’ Williamsburg Hotel is headed for receivership following $68M loan default

461 West 34th Street with Marx Development Group's David Marx (Credit: Google Maps)

David Marx lands $202M refi for Hudson Yards hotel

30 West 31st Street and 52 West 36th Street (Credit: Google Maps)

South Korean firm snaps up two Midtown hotels for $137M

Brookfield Property Group CEO Brian Kingston and 652 11th Avenue (Credit: Google Maps)

Brookfield drops $83M on Hell’s Kitchen hotel

Mensur Cekic, Hudson Yards’ director of residences

From private tutors to meditation sessions, inside NYC’s new amenities battle

arrow_forward_ios