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Bryant Park Hotel Hits the Market as Office Space
The landmarked Bryant Park Hotel at 40 W. 40th St. is being offered as “boutique” office space by Philips International, the agent for owners Philip Pilevsky, Raymond Gindi and Joseph Chehebar, the New York Post reported. The 122,000-square-foot conversion area includes popular ground-floor restaurant and underground lounge Celon.
Marketing materials for the offering didn’t specify asking rents, according to the Post. A source not involved with the marketing told the Post, “They want to see what they can get. As bad as the hotel market’s going to be after the pandemic, there’s surprising optimism about offices.
“There’s been a bump-up in Midtown office leasing even though most buildings are near-empty,” the insider noted. “There were big new leases for TikTok, AIG and Raymond James at towers in the West 40s and 50s. Of course, the Bryant Park’s smaller floors make it a different kind of animal.”
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- ◦Sale/Acquisition
