After its previous landlord struggled to make payments during the midst of Covid, a new tenant has taken over the Gramercy Park Hotel and expects to reopen the glamorous establishment by 2025.
According to sources, MCR Hotels purchased a 99-year lease on the hotel for $50 million. The hotel will undergo a series of renovations before officially reopening, reports The Wall Street Journal. Apparently, everything form the lobby to rooms, restaurants to bars will be part of the renovation.
“We will return this beloved hotel to its original splendor as the jewel of Gramercy Park — one of the most magical and unique neighborhoods in Manhattan,” Tyler Morse, the chairman and CEO of MCR, said in a press release.
The Gramercy Park Hotel first opened its doors in the 1920s. Though its a stones throw away from the exclusive Gramercy Park, its celebrity guest list is its most impressive accolade. Everyone from Babe Ruth to David Bowie has stayed at the hotel in its glory days.
Moreover, it’s rumored that Danny Meyer’s Italian restaurant, Maialino, that first opened in the Gramercy Park Hotel in 2009 might be a part of the reopening plans. “We can confirm that we are in active discussions to return Maialino to its original home on Gramercy Park,” a spokesperson for Union Square Hospitality Group told Eater in a statement.
Since being purchased by MCR, the Gramercy Park Hotel will join the hotel operator’s portfolio of establishments like the TWA Hotel, The High Line Hotel, Sheraton New York Times, The New Yorker and more.