THE NEW YORK PALACE HOTEL, NEW YORK, NY (Realized)

PROPERTY DESCRIPTION

The New York Palace is an 899-key full service luxury hotel located in the heart of the Plaza district in Midtown Manhattan, across the street from St. Patrick’s Cathedral on Madison Avenue between 50th and 51st streets. The hotel is comprised of three structures: the 55-story hotel tower, the 5-story Villard House, and the 2-story Maloney & Porcelli restaurant. The historical Villard House was constructed in 1884 and the hotel tower was completed in 1981. The hotel features among the largest rooms in its competitive set and of the 899 total keys, 132, or 15%, are suites, including the four Triplex penthouse suites.

INVESTMENT PERIOD

June 2011 – August 2015