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
Carpenter & Company's Richard Friedman and 2 Canal Street in New Orleans (Carpenter & Company, Google Maps)
New Orleans Four Seasons lands $315M loan from Madison Realty Capital
New Orleans Four Seasons lands $315M loan from Madison Realty Capital
Aman Group CEO Vlad Doronin and 730 Fifth Avenue (Getty Images, OKO Group)
Doronin’s Aman Group eyeing sale of Crown Building
Doronin’s Aman Group eyeing sale of Crown Building
Related Companies founder Stephen Ross and 33 Hudson Yards (Getty Images, LoopNet)
Related eyeing sale of Equinox Hotel
Related eyeing sale of Equinox Hotel
Leonard Stern with Wyndham Garden Hotel Newark Airport (Getty, Hotels Combined)
Hartz buys Newark Airport hotel for $34M, plans demolition
Hartz buys Newark Airport hotel for $34M, plans demolition
Public Hotel at 215 Chrystie Street, Steve Witkoff and Ian Schrager (Getty, Google Maps, Witkoff)
Schrager, Witkoff default on Public Hotel mortgage
Schrager, Witkoff default on Public Hotel mortgage
38-59 11th Street in Long Island City (Gene Kaufman Architect, iStock)
Daryl Hagler books $63M Long Island City hotel sale
Daryl Hagler books $63M Long Island City hotel sale
From left: 121 West 26th Street, Watermark’s Brendan Medzigian and Two Kings Principal Christopher Wang (Google Maps, Watermark , LinkedIn)
Watermark Capital sells Holiday Inn in Chelsea for $80 million
Watermark Capital sells Holiday Inn in Chelsea for $80 million
The Indie Cultivate event and Independent Lodging Congress president Andrew Benioff (Independent Lodging Congress)
Is innovation dead? These real estate disruptors say no
Is innovation dead? These real estate disruptors say no
arrow_forward_ios

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

Loading...