Check out LeFrak’s resi conversion plans for the Dumont Hotel

Developer plans to convert hotel to luxury rental

New York /
Jun.June 22, 2017 05:49 PM
The LeFrak Organization plans to convert the former Affinia Dumont hotel into a 260-unit luxury rental building.
The developer launched a teaser site for the project — dubbed Murray Hill Marquis — on Thursday, revealing plans for a mix of studio and one-bedroom apartments starting, respectively, at $2,575 per month and $3,425 per month, according to Curbed.

Earlier this year, LeFrak went into contract to buy the hotel at 150 East 34th Street for nearly $120 million, The Real Deal reported at the time. The seller, Pebblebrook Hotel Trust, bought a 49 percent stake in the Dumont and five other Manhattan hotels for $152 million in 2011. After splitting the assets with its partner, Denihan Hospitality Group, last year, Pebblebrook swiftly placed the Dumont and another hotel on the market.

LeFrak TRData LogoTINY is the second largest for-profit landlord in New York City, with 12,532 rental units, according to TRD’s 2016 ranking of residential landlords. [Curbed]Kathryn Brenzel

(To view a list of properties owned by the LeFrak Organization, click here)


Related Articles

arrow_forward_ios
Los Angeles, New York and Miami metro areas are in the top 10 of owner-occupied million dollar homes. (iStock)
These metro areas have the most — and fewest — million-dollar homes
These metro areas have the most — and fewest — million-dollar homes
BLDG Management founder Lloyd Goldman (iStock)
BLDG plans 800K-sf tower in Long Island City
BLDG plans 800K-sf tower in Long Island City
A closer look at Compass’ trail of litigation over its business tactics
A closer look at Compass’ trail of litigation over its business tactics
A closer look at Compass’ trail of litigation over its business tactics
Salesforce CEO Marc Benioff and Amazon's Jeff Bezos are backing the startup (Getty, Arrived)
Bezos-backed Arrived Homes is latest startup to expand real estate investment
Bezos-backed Arrived Homes is latest startup to expand real estate investment
Orchard's Patrick McClymont and HomeLight's Sean Aggarwal (Photos via IMAX, The Org)
Orchard, HomeLight move toward IPOs with new execs
Orchard, HomeLight move toward IPOs with new execs
Gary Barnett and Jay and Stuart Podolsky in front of 1645 First Avenue (Getty, Google Maps)
Gary Barnett site has one problem: the Podolsky brothers
Gary Barnett site has one problem: the Podolsky brothers
Oceanwide’s US business is sinking. Can it right the ship?
Oceanwide’s US business is sinking. Can it right the ship?
Oceanwide’s US business is sinking. Can it right the ship?
Renderings of The Eliza Apartments at the Redeveloped Inwood Library (New York Housing Conference)
Inwood affordable housing project moves forward after rezoning fight
Inwood affordable housing project moves forward after rezoning fight
arrow_forward_ios

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

Loading...