FINDING VALUE OTHERS OVERLOOK

PRESS

Featured News

JANUARY 30, 2017

Hidrock Pays $31M for Boerum Hill Mixed-Use Building
- The Real Deal

JANUARY 11, 2017

NYC’S Tanking Hotel Market is Coming Back in 2017
- Bisnow

JANUARY 6, 2017

Hidrock Locks in $101M in Loans for 31-story Midtown hotel
- The Real Deal

JANUARY 4, 2017

Union Investment Nabs NYC Marriott Hotel In $203M Deal
- Law360

Archives

JUNE 3, 2010

NEW PLANS FOR HERALD SQUARE OFFICES

- The Wall Street Journal


Hidrock to build it's first Manhattan hotel at 960 Sixth Avenue

Hidrock Realty, a family owned real estate investment company, is planning to embark
on what appears to be a pretty gutsy move: develop its first Manhattan hotel in a market
that's recovering but still far from robust.

But Hidrock is able to move forward with some confidence because of the enormous
discount it just got on a near-empty office building near Herald Square which it plans to
convert into a hotel. Hidrock paid about $40 million for the 100,000-square-foot building
at 960 Sixth Ave., less than half of the $105 million the former owner paid for the
property in 2007.

 

VIEW FULL ARTICLE 

2010-June