The owner of the Fifth Avenue Hotel, a new 153-room luxury hotel that has emerged from the $360M renovation of the landmark Second National Bank Building, wants to sell a stake of hotel to complete the project and pay down debt.
In a 13-year project, a trophy-caliber hotel was created in the bank building, a 1907-vintage renaissance-style structure also known as the Mansion. Developer Flaneur Hospitality gutted and redesigned the interior of the Mansion and added a 23-story building to the landmark at 250 Fifth Avenue, according to a Green Street alert.
The Fifth Avenue Hotel had a partial opening last fall, but only half of the rooms were ready. Flaneur extended a maturing $161M construction loan after an unsuccessful bid to refinance as lenders retreated from the market.
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