Hotel Developer To Build 250-Room Hotel

NEW YORK CITY-An unidentified hotel developer has acquired 325 W. 33rd St. from Glad Tidings Tabernacle Inc. for $31 million. The deal will soon result in the development of a 95,000-sf, approximate 250-room hotel in Hudson Yards.

Eastern Consolidated director Martin Ezratty with senior director Roberto Ortiz procured the buyer, while Karen Dome, Justdan Realty LLC, represented the seller, congregants of the on site three-story church property, which will be demolished to make way for the new hotel. “One of the perks that drove the deal was the 20,000 sf of additional air rights on offer to the new owner through a city-operated District Improvement Fund Bonus,” Ezratty explains.

Deborah Jackson, executive managing director of Weiser Realty Advisors LLC, who was not involved in the deal, tells GlobeSt.com that this is a great location and the hotel project is “well poised to benefit from the development activity in the area and from strong demand for quality hotel space in Manhattan and this submarket.”