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Broker Adina Azarian killed in plane crashBroker Adina Azarian killed in plane crashJeff Blau to Class B office owners: “Take what you can and run”Jeff Blau to Class B office owners: “Take what you can and run”Two years into going public, Compass still has issues with its booksTwo years into going public, Compass still has issues with its booksOceanwide defaults on loan tied to unfinished LA megaprojectOceanwide defaults on loan tied to unfinished LA megaproject
Residential
New York

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

Developer plans to convert hotel to luxury rental

The LeFrak Organization plans to convert the former Affinia Dumont hotel into a 260-unit luxury rental building.
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.

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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)

Tags
DevelopmentRichard LeFrak

TRENDING

Broker Adina Azarian killed in plane crashBroker Adina Azarian killed in plane crashJeff Blau to Class B office owners: “Take what you can and run”Jeff Blau to Class B office owners: “Take what you can and run”Two years into going public, Compass still has issues with its booksTwo years into going public, Compass still has issues with its booksOceanwide defaults on loan tied to unfinished LA megaprojectOceanwide defaults on loan tied to unfinished LA megaproject
Residential
New York

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

Developer plans to convert hotel to luxury rental

The LeFrak Organization plans to convert the former Affinia Dumont hotel into a 260-unit luxury rental building.
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.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

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)

Tags
DevelopmentRichard LeFrak