W Hotel Up for Sale, May Go Condo
The W Hotel Union Square is up for sale after owner Host Hotels & Resorts retained Eastdil Secured to market the 20-story property at 201 Park Avenue South. The brokerage is pitching the 205,00-square-foot, Beaux-Arts style building as a possible residential conversion opportunity, per marketing materials. The 270-room hotel, located on the corner of East 17th Street just north of Union Square, includes 26 guest suites. Bethesda, Md.-based Host Hotels acquired the property in September 2010 for more than $185 million, according to the New York Observer. The building was renovated and reopened in 2000 and houses two dining establishments – the Irvington restaurant and the W Living Room bar and lounge – operated by Scott Gerber’s Gerber Group. The hotel also includes 6,600 square feet of meeting space, a fitness center and a business center.
