Highgate | The Real Deal New York

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Highgate

870 Seventh Avenue
New York, NY 10019
(917) 546-4100
Website
Highgate

Highgate is a based hotel management company with over 100 hotels under management. Founded in 1988 by brothers Mahmood and Mehdi Khimji, the privately held company also has managed properties in San Francisco, Boston, and Las Vegas, tapping its affiliations with leading hoteliers Hilton, Wyndham, and Marriott. It has also managed luxury boutique hotels, such as The Quin. Highgate has partnered with private equity firms to purchase some hotels, such as the 2010 purchase of Milford Plaza (Highgate and fellow owner Rockpoint Group sold the hotel in 2014, which was then renovated and renamed The Row) and the 2012 purchase of the Manhattan at Times Square Hotel (which it sold three years later for roughly double profit). In 2014 the company sold a minority stake to Trilantic Capital Partners in an effort to expand. The terms of the undisclosed deal were said to be between $50 million and $250 million.


02/28/19
...Highgate Hotel's Neil Luthra (blue) and Rockpoint Group's Paisley Boney (pink) with the Row Hotel...

02/06/19
...Mubadala, the Witkoff Group and partners — hotel manager Highgate Hotels and New Valley, a unit of Vector Group — hired the Newmark Knight Frank...

01/09/19
...Stone for Pebble - $248 million Under-the-radar hotel powerhouse Highgate Hotels financed its acquisition of the Park Central Hotel with a $248 million loan from...

12/12/18
...From left: Highgate’s Mahmood Khimji, Mehdi Khimji, 870 7th Avenue, and Blackstone mortgage CEO Steve Plavin (Credit...

12/03/18
...sold two of its New York hotels to Highgate Hotels and the LeFrak Organization as it trims its portfolio. Highgate’s Mahmood Khimji...

11/03/18
The owners of a Caribbean resort say the Gansevoort Hotel has lost its hip factor and they no longer want to be associated with it....

09/26/18
...Gansevoort Park Avenue hotel — which it bought with Highgate Hotels for $200 million and has rebranded as the Royalton Park Avenue. In May, GreenOak...

09/11/18
...Albany Street. Earlier this year Capstone Equities and Highgate closed on the $190 million purchase of the W on Lexington Avenue, which they renamed...

...Gansevoort Park Avenue hotel — which it bought with Highgate Hotels for $200 million and has rebranded as the Royalton Park Avenue. In May, GreenOak...

08/08/18
...this one, not a replacement. Rockpoint Group and Highgate Hotels recently began looking to sell their leasehold interest at 412 West 15th Street and...

08/01/18
...Field Condition, and Rockpoint Group) Rockpoint Group and Highgate Hotels are looking to sell their record-setting office development in the Meatpacking District for...

07/23/18
...Highgate’s Mahmood Khimji (left) and Mehdi Khimji (Credit: Kelly Taub/BFA.com) Those who...

07/20/18
...owned by a joint venture between Rockpoint Group, Highgate Hotel and Goldman Sachs. Mack Real Estate has been actively lending across the five...

06/29/18
...included Vornado Realty Trust, Oxford Properties, Crown Acquisitions, Highgate and a group of private institutional players — agreed to buy the tower for $1.3 billion...

06/18/18
...Avenue ain't called that anymore. Now owned by Highgate and Capstone Equities, the partners have rechristened the place, calling it the Maxwell. They...

05/22/18
...loss. The brokers declined to comment, and Westbrook, Highgate and Host Hotels could not be reached. The 205,000-square-foot property would be the latest...

05/15/18
...just brokered the closing of Capstone Equities and Highgate...

05/14/18
...Street in Soho for $21 million and partnered with Highgate to buy the Gansevoort Park Avenue hotel, which they renamed the Royalton Park Avenue...

05/14/18
...inked a 20,756-square-foot lease at Rockpoint Group and Highgate’s 412 West 15th Street, next door to its current Meatpacking District office. The concert...

05/11/18
...Joshua Zamir and 541 Lexington Avenue Capstone Equities and Highgate pulled off roughly $130 million in financing to close on their purchase of the W...

04/20/18
...the lease are being met. She added that Highgate Hotels, which manages the Park Central Hotel, will take over the hotel operations. However...

02/27/18
...Highgate’s Mahmood Khimji (left) and Medhi Khimji From the February issue: Those who grew...

02/21/18
...deal said that Capstone opted to partner with Highgate for the purchase instead. It’s not clear if Highgate, which frequently serves as...

02/19/18
...developing the roughly 140,000-square-foot building with hotel developer Highgate Holdings and longtime property owner Meilman Family Real Estate, which had owned the property...

02/05/18
...Street in July for $15.5 million. GreenOak partnered with Highgate at the end of 2017 to close on the roughly $200 million purchase of the Gansevoort...
  • Event Financing
  • Address 541 Lexington Avenue
  • Neighborhood Upper East Side
  • Borough Manhattan
  • Square feet 317,496
  • Price $ 170,000,000
  • Publication Date 06/04/2018
  • Event Date 05/25/2018
  • Party 1 Capstone Equities, Highgate
  • Party 1 Brokerage Eastdil Secured
  • Party 2 Loancore Capital
notes
The owners secured a $170 million loan to refinance the Upper East Side property.
  • Event Office Leasing
  • Address 412 West 15th Street
  • Neighborhood Meatpacking District
  • Borough Manhattan
  • Square feet 20,756
  • Publication Date 05/15/2018
  • Event Date 05/11/2018
  • Party 1 Rockpoint Group, Highgate Holdings
  • Party 1 Brokerage CBRE
  • Party 1 Broker James Ackerson, Paul Amrich, Neil King
  • Party 2 Live Nation
  • Party 2 Brokerage Newmark Knight Frank
  • Party 2 Broker Eric Zemachson, Chris Mongeluzo
notes
The concert promoter and venue operator inked a lease for the 2nd and 3rd floors of the Meatpacking District building.
  • Event Financing
  • Address 541 Lexington Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Square feet 317,496
  • Price $ 130,000,000
notes
The partnership secured a $130 million loan to close on the purchase of the W Hotel in the Plaza District.
  • Event Financing
  • Address 1652 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 499,365
  • Price $ 275,000,000
  • Publication Date 10/01/2017
  • Event Date 08/16/2017
  • Party 1 Highgate Hotels
  • Party 2 MTS PropCo
notes
The Manhattan at Time Square Hotel acquired a loan for $275 million.
  • Event Financing
  • Address 6 West 32nd Street
  • Neighborhood Midtown South
  • Borough Manhattan
  • Square feet 80,185
  • Price $ 39,500,000
notes
The two firms acquired a loan for $39.5 million for the New York Manhattan Hotel.
  • Event Financing
  • Address 44 West 44th Street
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 36,400,000
  • Publication Date 09/01/2017
  • Event Date 08/04/2017
  • Party 1 Highgate; Rockpoint Group
  • Party 2 Deutsche Bank
notes
The joint venture obtained a loan.
  • Event Office Leasing
  • Address 413 West 14th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 48,000
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Rockpoint Group, Highgate, Meilman Family
  • Party 2 Argo Group
notes
The Bermuda-based insurer signed a lease, taking the top two floors.
  • Event Sales
  • Address 371 Seventh Avenue
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 473,391
  • Price $ 217,500,000
notes
The 611-key hotel was sold for $217.5 million.
  • Event Financing
  • Address 371 Seventh Avenue
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 474,000
  • Price $ 158,600,000
notes
The company secured a $158.6 million loan for the hotel.
  • Event Financing
  • Address 371 Seventh Avenue
  • Neighborhood Penn Plaza
  • Borough Manhattan
  • Square feet 473,391
  • Price $ 158,800,000
notes
The partnership secured an acquisition loan of $158.8 million for the 611-key hotel.
  • Event Sales
  • Address 373 Seventh Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 474,000
  • Price $ 217,500,000
  • Publication Date 12/01/2016
  • Event Date 10/15/2016
  • Party 1 Pebblebrook
  • Party 2 Highgate, AB & Sons, Sioni Group
  • Party 2 Brokerage Eastdil and Hodges Ward
notes
The 28-story hotel is in contract with closing expected by year-end.
  • Event Sales
  • Address 170 Broadway
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 150,000,000
  • Event Sales
  • Address 1466 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 40,000
  • Price $ 195,800,000
  • Price per foot $ 4,895.00
notes
The majority stake in the retail condo sold for $195.8 million. Crown Acquisitions and Highgate Holdings will continue to hold minority stakes in the property, with Crown continuing to operate a part of the retail space.
  • Event Sales
  • Address 790 Seventh Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 275,000,000
notes
The Manhattan at Times Square Hotel sold for $275 million, the New York Observer reported.
  • Event Sales
  • Building Name 42nd Street and Broadway
  • Address 42nd Street and Broadway
  • Borough Manhattan
  • Price $ 115,000,000
  • Publication Date 03/01/2012
  • Event Date 01/21/2012
  • Party 2 FelCor Lodging Trust Inc., Highgate Holdings LLC
notes
The site of the former Knickerbocker Hotel sold for $115 million. The new owner plans to re-open the hotel, which will serve as its flagship, in late 2013.
  • Event Sales
  • Address 170 Broadway
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 55,000,000
  • Publication Date 02/01/2012
  • Event Date 12/23/2011
  • Party 1 Troy Baydala, AMG Realty
  • Party 2 Crown Acquisition, Carlyle Group, Highgate Holdings
notes
The sale of the building closed for $55 million, the New York Post reported. The buyers plan to redevelop the property into a hotel with retail.
  • Event Sales
  • Address 569 Lexington Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 335,000,000
  • Publication Date 03/01/2011
  • Event Date 01/20/2011
  • Party 1 Highgate Holdings, Whitehall Real Estate Funds, Rockwood Capital
  • Party 2 RLJ Development
notes
The Doubletree Metropolitan Hotel sold for $335 million. The property last traded for $110.5 million in 2003.
  • Event Sales
  • Address 700 Eighth Avenue
  • Neighborhood Times Square
  • Borough Manhattan
  • Price $ 200,000,000
notes
The Milford Plaza Hotel sold for $200 million.
  • Event Sales
  • Address 1466 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Square feet 400,000
  • Price $ 180,500,000
  • Price per foot $ 451.25
notes
The former Knickerbocker Hotel and an adjacent lot sold for $180.5 million. The new owners plan to use the building as a hotel.
  • Event Sales
  • Building Name Holiday Inn Soho
  • Address 138 Lafayette Street
  • Neighborhood Soho
  • Borough Manhattan
  • Price $ 128,600,000
  • Publication Date 11/01/2007
  • Event Date 09/22/2007
  • Party 1 Highgate Holdings
  • Party 1 Brokerage Cushman & Wakefield
  • Party 2 The Procaccianti Group
notes
The Rhode Island-based real estate developer/hotelier acquired the hotel for $128.6 million. The seller, who had previously announced plans to convert the property into a boutique hotel, originally paid $42.5 million for it in 2005. The Procaccianti Group also purchased the 300-room Tudor Hotel at the United Nations for an undisclosed amount (see below).
  • Event Sales
  • Building Name On the Avenue Hotel
  • Address 2170 Broadway
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 201,350,000
  • Price per foot $ 760,000.00
  • Publication Date 10/01/2007
  • Event Date 08/22/2007
  • Party 1 Rockpoint
  • Party 2 Highgate Holdings
notes
The luxury hotel sold for $201.35 million, or approximately $760,000 per room.
  • Event Sales
  • Building Name Doubletree Guest Suites Times Square
  • Address 1568 Broadway
  • Neighborhood Times Square
  • Borough Manhattan
  • Price $ 180,200,000
  • Publication Date 02/01/2007
  • Event Date 12/23/2006
  • Party 2 Sunstone Hotel Investors, Goldman-Sachs' Whitehall Street Global Real Estate Limited Partnership 2005, Highgate Holdings
notes
Sunstone's contribution of $68.5 million represents a 38 percent stake in the joint venture that bought the hotel, suggesting a total price of approximately $180.2 million.
  • Event Sales
  • Address Park Central Hotel
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 200,000,000
  • Event Sales
  • Address 569 Lexington Avenue
  • Neighborhood Plaza District
  • Borough Manhattan
  • Price $ 15,000,000
  • Event Sales
  • Building Name Park Central Hotel
  • Address 870 Seventh Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 200,000,000
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ROCKPOINT GROUP | HIGHGATE HOLDINGS | MEILMAN FAMILY REAL ESTATE, 412W15 LESEE, L.P.
This property is a new development. The developer(s) filed plans in June of...
Manhattan, 10036
HIGHGATE HOTELS, 136-140 42ND STREET OWNER, L.P.
136 West 42nd Street is a 143,131 square foot building in the Theater...
Manhattan, 10002
Morris Platt, 91/93/95 HIGHGATE, LLC
This property is a new development. The developer(s) filed plans in August of...
Manhattan, 10019
Highgate Hotels, HIGHGATE HOTELS
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Manhattan, 10038
Highgate, 170 BROADWAY NYC LP
The sponsor(s) filed plans on 08/12/03 for a condo project at 170 Broadway....