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New York & Tri-State  + Downtown New York  + Hospitality  |  August 28, 2023
Emily Fu
By: Emily Fu

MCR/MORSE Development to Reopen the Gramercy Park Hotel 

MCR/MORSE Development, the country’s third-largest hotel owner-operator, has acquired the Gramercy Park Hotel in Downtown. 

MORSE Development plans to restore the five-star Gramercy Park Hotel, which has been closed since 2020. A comprehensive renovation will rejuvenate the lobby, first-floor restaurants and bars, 197 guestrooms, and the 7,000-square-foot rooftop bar. The hotel has a rich history that attracted athletes, politicians, screen legends, and rock stars, including The Clash, U2, and David Bowie.  

“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,” says Tyler Morse, Chairman and CEO of MCR/MORSE Development.  

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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