Colliers Secures Financing for Redevelopment of Historic Hotel Elysée in Midtown Manhattan
Colliers has successfully arranged a multi-million-dollar acquisition and redevelopment financing package for the iconic Hotel Elysée, located at 60 East 54th Street in Midtown Manhattan. The financing supports a full renovation and repositioning of the nearly century-old property, transforming it into a five-star lifestyle boutique hotel. The funding was secured on behalf of Hera Hospitality and its group of investors. Mark Owens and Matt Nowaczyk of Colliers represented Hera Hospitality in the transaction.
“Hotel Elysée is one of those rare New York properties that carries both history and untapped potential,” said Mark Owens, leader of the Hospitality Practice Group at Colliers. “This financing marks the beginning of an exciting transformation for the building and a new chapter for this much-loved hotel. With luxury hotels continuing to outperform across urban markets—particularly in the lifestyle segment—there is strong demand for differentiated assets like the iconic Elysée.”
As part of the planned renovations, the hotel will increase both the number and size of its suites. Once completed, the property is expected to stand among the most desirable boutique hotels in Manhattan, according to Colliers.
