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New York & Tri-State  + Midtown New York  + Hospitality  | 

HKS, Lee NYC Arrange Leasehold for Future Hotel Near Times Square

Peter Carillo of HKS Real Estate Advisors and Ben Tapper with Lee & Associates NYC negotiated a 99-year leasehold at 777 Eighth Ave., between West 47th and West 48th streets. Deal terms weren’t disclosed.

Carillo and Tapper represented the property owner, 777 Eighth LLC, and Joseph Genovese of Lee Odell Real Estate advised the tenant, a developer who plans to erect a 200-key hotel. It’s the second leasehold that Carillo and Tapper have created for this owner in this neighborhood in the past three years.

“Located only one block from the heart of Times Square, this development opportunity is ideally situated for hotel use, with numerous shopping, dining, and theater options within walking distance,” said Tapper.

Surrounding flagship and destination shopping options include H&M, Forever 21, MAC Cosmetics, and M&M’s World store. 777 Eighth is within walking distance of the A, C, E, N, R, W, and 1 subway lines.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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