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151 West 54th Street

151 West 54th Street
New York, NY 10019
Hotel, Ground Lease

The 575,241-square-foot, 54-story building at 151 West 54th Street is home to the 562-room London New York Hotel. Private-equity giant the Blackstone Group has owned the hotel since 2004; and it leases the building from Solil Management Corp., the firm that manages the real estate empire started by the late Sol Goldman.

As of 2013, Blackstone was paying Solil $3.7 million in rent annually for control of 151 West 54th Street. Blackstone put its leasehold up for sale in late 2013 for $500 million, though a deal was not forthcoming as of early 2015. The firm had purchased the hotel from the now-defunct Lehman Brothers for $193 million, or $381,000 per room.

Shortly after its acquisition, Blackstone poured more than $100 million into a major renovation spearheaded by designer David Collins. The renovation included the addition of two restaurants in the hotel originally operated by dyspeptic chef Gordon Ramsay. (Ramsay has since sold the restaurants to Blackstone, and only occasionally advises on their menus.)

Nightly rates at the London New York start at around $250. ¾-TA

  • Year Built 1987
  • square feet 575,241
  • block and lot 1-01007-0005
  • BIN 1069590
  • Event Sales
  • Address 151 West 54th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 382,000,000
notes
The 54-story, 563-key London NYC hotel sold for
  • Event Sales
  • Building Name Rihga Royal
  • Address 151 West 54th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Price $ 183,000,000
notes
$40M in renovations planned