Residential Conversion Planned for 108-Unit Park 79 Hotel SRO at 117 West 79th Street, Upper West Side

117 West 79th StreetPresent-day 117 West 79th Street. Photo by Christopher Bride for PropertyShark

Fairstead Capital has purchased the vacant seven-story, 108-key Park 79 Hotel at 117 West 79th Street, on the Upper West Side, for $22.5 million. The new owners plan to convert the 32,172-square-foot SRO building into an undisclosed number of residential apartments. It’s unclear whether the apartments will be rentals or condominiums. Park 79 Hotel closed late last year after receiving a slew of violations from the Buildings Department. Before the property was an illegal hotel, it was supposed to be a single room occupancy building for low-income tenants, Real Estate Weekly reported. The property comes with 27,780 square feet of air rights, allowing for a potential expansion. It’s also located within the Upper West Side/Central Park West Historic District, which means the Landmarks Preservation Commission must approve any exterior alterations.

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TFC Horizon
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3 Comments on "Residential Conversion Planned for 108-Unit Park 79 Hotel SRO at 117 West 79th Street, Upper West Side"

  1. Many an architecture right here, curved and squared windows really stylish.

  2. There are no additional air rights. They were taken by the 101 W 79 St. many years ago.

  3. Let’s see if Fairstead flips it… They need the cash.

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