Realized Sale

45 West 81st Street

NEW YORK, NY

RMB Advised the long-term ownership of the Excelsior Hotel on 81 Street between Central Park West and Columbus Avenue.  The property was a Hotel with a handful of hotel-regulated tenants.  During the pandemic, the hotel was closed and never reopened again.  It was sold for conversion to Luxury Rental Apartments. 

Property TYPE

THE EXCELSIOR HOTEL

Square Footage

45 West 81st Street is located on the Upper West Side 0n the North Side of 81st Street between Central Park West and Columbus Avenue.  Directly across from the American Museum of Natural History. It is a 16 Story Hotel with 133,000 SF with 220 Rooms. 

STORY

RMB closed the sale of the hotel for $79,750,000.  The hotel was sold to a developer who converted it to a residential rental.   The property was the former home of the Calle Ocho, a Cuban-style restaurant.  The Excelsior Hotel has been family-owned and operated since the 1940s. This was the 1st sale in 80 years.

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