Check out LeFrak’s resi conversion plans for the Dumont Hotel
Developer plans to convert hotel to luxury rental
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 [TRDataCustom] 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)