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Ritz Plaza

235 West 48th Street
New York, NY 10036
Residential, Multifamily

The Ritz Plaza apartments at 235 West 48th Street, wedged between Times Square and Hells Kitchen, is one of the jewels in real estate investment firm Stonehenge Partners crown.

Built in 1989, it is one of the newer-built properties owned by Stonehenge. While the units in the 43-floor building are largely no-fee, Ritz Plaza also offers 24-hour doorman and valet services, and for a yearly health club fee renters can use the buildings fitness center, indoor pool, and deck lounge.

Stonehenge has consistently tried to beef up the buildings appeal to live up to its moniker. In 2011, the building was refinanced via a $150 million loan from Walker and Dunlap; later that year, during Hurricane Irene, Stonehenge housed contractors and staffers in vacant apartments to weather the storm. In 2012, Stonehenge used a local warming promotion and set up a high-end pop-up supper club inside one of the rental units.

The building also served as Stonehenges headquarters until 2008, when the space got too small for the expanding investment firm and they moved to a doubly spacious office at 888 Seventh Avenue. ¾-NR

  • Address 235 West 48th Street
  • neighborhood Midtown West
  • borough Manhattan
  • owner Stonehenge Partners
  • owner entity CS RITZ RESIDENCES LL
  • floors 43
  • Year Built 1989
  • residential units 479
  • total units 479
  • square feet 475,327
  • block and lot 1-01020-0005
  • BIN 1076194
  • Event Financing
  • Address 235 West 48th Street
  • Neighborhood Times Square
  • Borough Manhattan
notes
A $151 million financing was provided for the 47-unit rental building with 30,000 square feet of office and retail space. The 10-year fixed-rate loan was arranged with an interest rate of 5.34 percent, and features two years of interest-only payments. 43-story mixed-use building.