The New York Palace Hotel is a 909-key full-service, luxury hotel located in the heart of the Plaza district in Midtown Manhattan, across from St. Patrick’s Cathedral on Madison Avenue between 50th and 51st Streets.
The hotel’s central location catered to both business travelers as well as tourists and leisure travelers. The hotel was 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 contained some of the largest rooms in its competitive set and of the 899 total keys, 132, or 15%, were suites, including the four Triplex penthouse suites.
Investment Period: June 2011 – August 2015
