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Ian Schrager

Founder, CEO
Ian Schrager Company
818 Greenwich Street
New York, NY 10014
(212) 796-8400
Website

Ian Schrager is a major hotelier often credited with pioneering the concept of the boutique hotel.

Since 2005, he has been the chairman and CEO of the Ian Schrager Company. He partnered in 2007 with Marriott on a new, collaborative brand of boutique hotels, the first of which opened in 2010.

In 1977, Schrager co-founded the famous Manhattan nightclub, Studio 54.

Schrager and his Studio 54 business partner, Steve Rubell, were convicted of tax evasion in 1980 and spent a year in prison. They rebounded with the Morgans Hotel. That success led to the opening of the Century Paramount and the Royalton.

After Rubells death in 1989, Schrager started the Morgans Hotel Group, whose holdings would come to include the Delano Hotel in Miami, the Clift in San Francisco, the Hudson Hotel in New York and the Sanderson Hotel in London.

Since leaving the Morgans Group in 2005, Schragers notable ventures have included not only hotels but condominiums, notably 50 Gramercy Park North and 40 Bond.  -TA

  • Event Sales
  • Address 701 Seventh Avenue
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 369,864
  • Price $ 1,530,000,000
notes
The partnership acquired the Midtown West Marriott Edition Hotel for $1.53 billion.
  • Event Financing
  • Address 215 Chrystie Street
  • Neighborhood Bowery
  • Borough Manhattan
  • Square feet 167,453
  • Price $ 173,250,000
  • Price per foot $ 1,034.00
notes
The entity secured a $173.25M refinance, which consolidates 3 previous loans.
  • Event Financing
  • Address 160 Leroy Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 12,517
  • Price $ 99,400,000
  • Publication Date 03/01/2016
  • Event Date 01/01/2016
  • Party 1 Ian Schrager
  • Party 2 Talos Capital
notes
The company secured a $99.4 million project loan.
  • Event Sales
  • Building Name 355 and 358 West Street
  • Address 358 West Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 53,250
  • Price $ 48,500,000
  • Price per foot $ 910.80
  • Event Sales
  • Address 355 West Street
  • Neighborhood West Village
  • Borough Manhattan
  • Square feet 41,000
  • Price $ 37,200,000
  • Price per foot $ 907.32
  • Publication Date 03/11/2015
  • Event Date 01/30/2015
  • Party 1 Weinberg Properties
  • Party 2 Ian Schrager
  • Event Sales
  • Address 215 Chrystie Street
  • Neighborhood Lower East Side
  • Borough Manhattan
  • Price $ 50,000,000
  • Publication Date 02/01/2013
  • Event Date 12/23/2012
  • Party 1 Ruby Schron
  • Party 2 Ian Schrager, Steve Witkoff
notes
The property sold for about $50 million, the Wall Street Journal reported. The buyers plan to build a 25-story hotel and apartment building on the site, according to the paper.
  • Event Sales
  • Address Five Madison Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Price $ 200,000,000
  • Event Sales
  • Building Name Paramount Hotel
  • Address 235 West 46th Street
  • Neighborhood Times Square
  • Borough Manhattan
  • Price $ 200,000,000
  • Publication Date 07/01/2007
  • Event Date 05/22/2007
  • Party 1 Becker Ventures, Hard Rock Café International
  • Party 2 Walton Street Capital
notes
The hotel is in contract for $200 million. It will not be converted to the Hard Rock Hotel New York, as once speculated. The partnership had acquired the property in 2004 for $130 million from Ian Schrager.
  • Event Sales
  • Building Name Five Madison Avenue
  • Address 5 Madison Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 267,000
  • Price $ 200,000,000
  • Price per foot $ 749.06
notes
The landmark Clock Tower sold to Lev Leviev's international holding and investment company for $200 million, or $750 per square foot. SL Green had acquired the building in 2005.
  • Event Sales
  • Address One Madison Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Event Sales
  • Building Name One Madison Avenue
  • Address 23 East 22nd Street
  • Neighborhood Flatiron
  • Borough Manhattan
notes
The new owners plan to turn the tower into luxury condos; price n/a.
  • Event Sales
  • Address 245 West 46th Street
  • Neighborhood Times Square
  • Borough Manhattan
  • Price $ 125,000,000
  • Publication Date 05/01/2004
  • Event Date 03/22/2004
  • Party 1 Northstar Capital (Ian Schrager)
  • Party 2 Hard Rock Hotel chain
notes
Schrager selling Times Square hotel
  • Event Sales
  • Address Empire Hotel
  • Borough Manhattan
  • Price $ 80,000,000
notes
To become 125 condo units
Manhattan, 10014
IAN SCHRAGER, 160 LEROY LLC
The sponsor(s) filed plans on 06/12/15 for a condo project at 160 Leroy...

06/01/2018
Halstead’s Schneiderman said developments like Ian Schrager’s 160 Leroy Street and Billy Macklowe’s 21 East 12th Street are among the biggest success stories in the city...

02/01/2018
Despite finishing second on the more-coveted closed sales ranking, Douglas Elliman clocked in at No. 1 on this line-up with 1,187 listings valued at $5.31 billion, up 2 percent from $5.2 billion in May 2016, the last time TRD published its ranking. Those listings included new developments like 432 Park and Ian Schrager’s 160 Leroy, as well as such pricey resales as an $80 million Upper East Side townhouse at 8 East 62nd Street...

10/01/2017
The firm, for example, represented JPMorgan Chase in a $748 million first-mortgage and mezzanine financing package it provided in November for the 39-story hotel-and-retail tower at 20 Times Square that the Witkoff Group, Howard Lorber’s Vector Group, Ian Schrager and several others are building...

06/01/2017
They were followed by Compass President Leonard Steinberg with $253 million in new-development listings â€' a chunk of them at Ben Shaoul’s 196 Orchard on the Lower East Side and the Foster + Partners-designed 100 East 53rd Street. Elliman’s Lauren Muss came in at No. 7 with $222.2 million in listings at properties including Ian Schrager’s 160 Leroy â€' which has a penthouse asking $48.5 million...

12/28/2015
Clockwise from top left: 520 West 28th Street, the World Trade Center complex, 475 West 18th StreetAnd 303 East 44th Street Let’s face it -- Clockwise from top left: 520 West 28th Street, the World Trade Center complex, 475 West 18th StreetAnd 303 East 44th Street Let’s face it --...

10/01/2013
On the condo side, for example, Argentinian developer Alan Faena is putting up an 18-story, 47-unit luxury tower in Miami Beach, appropriately named Faena House. Ian Schrager, a Manhattan hotelier who has branched out into homes, is building the 11-story, 26-unit Residences at the Miami Beach Edition...
Manhattan, 10014
IAN SCHRAGER, 160 LEROY LLC
The sponsor(s) filed plans on 06/12/15 for a condo project at 160 Leroy...