NYC set for 2 hotel conversions

Two hotel conversions in New York City, one of a university dormitory and the other of an office building, were reported over the past two weeks.

Crain’s New York Business reported on Thursday that a consortium comprised of Highgate Hotels, Irving, Texas, Crown Acquisitions, New York City and The Carlyle Group, Washington, D.C. purchased an office building at 170 Broadway for approximately US$100 million to US$150 million from AMG Realty Partners, a subsidiary of GE Capital, according to sources familiar with the purchase.

In Greenwich Village, the historic Marlton House building, which served as a single room occupancy hotel for much of its existence since it was built in 1900 and housed Beat Generation literary luminaries such as Jack Kerouac, is being converted back into a hotel. Since 1987 it has served as a dormitory for The New School.

The New York Post reported on Sept. 8 that conceptual hotel designers Sean MacPherson and Richard Born have signed a long-term lease to manage the property, which will be converted into a lifestyle hotel. MacPherson and Born created the unique The Jane Hotel, The Maritime Hotel and The Bowery Hotel, all located in New York City.