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Hidrock Realty has filed plans for a new 31-story, 161-key hotel at 12-14 East 48th St.
Hidrock purchased the site, along with 13 East 47th St, in 2014 for $47M, and had originally planned to build a residential project there, NY Yimby reports.
The planned hotel will total 116k SF and include amenities like a fitness center, a lounge with a pantry, bike storage and a second-floor terrace.
While analysts and lenders have grown wary of the NYC hospitality industry lately over fears of a pending oversupply, the industry itself has remained largely upbeat about its prospects. [NYY]
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