Check out LeFrak’s resi conversion plans for the Dumont Hotel

Developer plans to convert hotel to luxury rental

<em>The Dumont Hotel at 150 East 34th and Richard LeFrak (Credit: Getty Images)</em>
The Dumont Hotel at 150 East 34th and Richard LeFrak (Credit: Getty Images)
The LeFrak Organization plans to convert the former Affinia Dumont hotel into a 260-unit luxury rental building.

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The developer launched a teaser site for the project — dubbed Murray Hill Marquis — on Thursday, revealing plans for a mix of studio and one-bedroom apartments starting, respectively, at $2,575 per month and $3,425 per month, according to Curbed.

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)

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