Thought I'd post this because I walk by the place everyday. It's a massive building that's been vacant for awhile, and I always wondered what was to become of it.
The Ten-Eyck Troughton Residence was a Salvation Army home for women from the middle 1950s until recently, when the organization sold the Murray Hill building to a developer. Previously embroiled in a heated dispute, it's now being developed to become a hotel with a rooftop bar.
Via The Real Deal:
BD Hotels buys Salvation Army Midtown tower for $28M
July 22, 2010 06:30PM By Adam Pincus
Hotel owners Richard Born and Ira Drukier, principals with BD Hotels, led a partnership that yesterday bought a former women's residence in Murray Hill for $28 million from the Salvation Army, Born told The Real Deal.
BD Hotels plans to rehabilitate the vacant, 17-story property at 145 East 39th Street, between Third and Lexington avenues, and open it as a hotel before the end of 2011, he said.
The 98,815-square-foot building was constructed in 1918 as a hotel called the Allerton House, and was designated a landmark by the city in 2008.
The building currently has 342 rooms, city Department of Buildings records show, resulting in a price of about $82,000 per key.
Born's hotel company has an ownership interest or operates 22 hotels in New York City including Chambers in Midtown at 15 West 56th Street, and Maritime in Chelsea at 363 West 16th Street.
BD Hotels and its partners were represented by Christen Portelli, a managing principal for brokerage Highcap Group. Salvation Army was represented by Colliers International brokers Robert Freedman, Jonathan Plotkin and James Murphy. The Colliers brokers and the Salvation Army did not respond to requests for comment.
The sale transaction has not yet been published on the city's property website, Acris.
Hospitality consultant Steven Kamali, who was not involved in the transaction, said the proximity of the building to students from New York University and Yeshiva University makes it a good location for a hotel.
"That building is well-situated in Murray Hill for potentially successful food and beverage outlets," within the hotel, he said.
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9 years ago
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Lived there for 3 years. Marvellous location -guess I will never be able to afford it again. Glad to hear they finally got out all the residents who didnt pay their rent for years and years. Maybe if they had it would still be a useful place to stay for single working females.
ReplyDeleteI agree with you absolutely. I lived there for seven years. They supplied food and maid service, and the location was terrific. But the management was constantly in litigation with certain women who weren't paying their rent. I'm sorry the place was sold, because it was a low-cost residential alternative for single working women in Manhattan.
DeleteIts like you read my mind! You seem to know so much about this, like you wrote
ReplyDeletethe booik in iit or something. I think that you could do with a few pics to drive the message home a little bit, but
other than that, this is great blog. A great read.
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I lived there for 3 months in 1982 for $80 a week which included 2 meals a day. I was a college student doing an internship at the Salvation Army Archives in lower Manhattan, and it was a dream come true for me to be able to afford 3 months in NYC....what a great experience, thanks to low-cost housing subsidized by the Salvation Army.
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