Colliers Secures Financing for Renovation 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 E. 54th Street in Midtown Manhattan. The deal, secured on behalf of Hera Hospitality and its investors, will fund a comprehensive renovation and repositioning of the century-old property into a five-star lifestyle boutique hotel.
Mark Owens and Matt Nowaczyk of Colliers represented Hera Hospitality Group in the financing arrangement.
“Hotel Elysée is one of those rare New York properties that carries both history and untapped potential,” said Owens, who leads 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—especially in the lifestyle segment—there is strong demand for differentiated assets like the iconic Elysée.”
As part of the renovation, plans include expanding both the size and the number of suites. Upon completion, the updated Hotel Elysée is expected to become one of Manhattan’s most desirable boutique hotel destinations.
