- Funding Needed
- $100 (Mio)
- EB5 Funding
- $100 (Mio)
- EB-5 Investors
- 200
- Investment Amount
- $500,000
- Category
- Accommodation and Food Services
- Sub-Category
- Hotels (except Casino Hotels) and Motels
- State
- New York
- Location
- Intersection of Sixth Avenue (Avenue of the Americas) and West 58th, NY
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- Last Update: February 04, 2015 01:00 PM
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1 Hotel Central Park
Project Description
NYIF 1 CENTRAL PARK, LLC (“1CP”), a New York limited liability company, has been formed to invest in a project with sponsors from the New York Immigration Fund Regional Center (“NYIFund”). 1CP intends to provide preferred equity financing to be used for redeveloping a 18 story commercial office building into an upscale/luxury independent hotel called 1 Hotel Central Park, which is affiliated with the new 1 Hotel brand. The Project is owned by an affiliate of Starwood Capital Group Global, L.P.
1 Hotel is an eco-luxury brand that aims to combine environmentally sustainable architecture (LEED certified) and interior design with high-standards of service and luxurious comfort. The 1 Hotels concept was conceived by prominent hotelier Barry Sternlicht, the founder, Chairman and CEO of the Starwood Capital Group, who also pioneered the upscale boutique brand known as W Hotels.
1 Hotel Central Park: Map
Intersection of Sixth Avenue (Avenue of the Americas) and West 58th, NY
Project Location Description
The subject site features a corner location at the intersection of Sixth Avenue (Avenue of the Americas) and West 58th Street. The property is located one block south of Central Park and less than one block west of the Fifth Avenue upscale shopping corridor. Some of the most expensive apartments and real estate in the United States are found here. Four famous upscale hotels are also located nearby the 1 Central Park Hotel: the Plaza Hotel, the Ritz-Carlton(Central Park) which is the flagship of the Ritz-Carlton chain, the Park Lane, and JW Marriott Essex House. Overall, the neighborhood is ideally suited to support an upscale hotel operation.
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