The landmarked Beekman Tower Hotel is up for grabs for around $80 million.
The 26-story Art Deco hotel along First Avenue and East 49th St. at Mitchell Place is just north of the United Nations and has views of the grounds and the East River.
The hotel, which has no “flag” or management contract, is being marketed by Eastdil Secured, which was given the assignment by current debtholder Lone Star Funds, according to Real Estate Alert.
The Peninsula Real Estate Fund, promoted by Anglo Irish Bank, bought the Beekman in a two-hotel package in 2006, using money from 50 small investors along with a loan from Anglo Irish, which was nationalized in 2009.
A court battle over spiraling renovation costs resulted in Anglo Irish controlling the hotel through an affiliate, Mainland Ventures, which will cooperate with the sale.
The original Panhellenic Hotel was developed in 1928 as cheap housing for 380 sorority women. Today, all 174 rooms have living rooms and kitchenettes.
Its Top of the Tower restaurant boasts some of the best views of Manhattan, while another restaurant at the ground level is vacant.
No one from Eastdil would comment on the marketing of the property, but a new owner could reduce or increase the room count or possibly create luxury condominiums.
The city’s hotel boom shows no signs of abating as investors look to cash in on the city’s tourism industry and rising hotel rates.
New hotels are being developed downtown and on the Lower East Side, and even in outer boroughs like The Bronx, which will soon get its first Marriott Residence Inn at the Hutchinson Metro Center.