The Real Deal New York

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

Developer plans to convert hotel to luxury rental
June 22, 2017 05:49PM

The Dumont Hotel at 150 East 34th and Richard LeFrak (Credit: Getty Images)

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)