• News
    • About
    • Contact Us
    • Social
    • Miami
    • New York
Menu

PROFILEnyc

  • News
  • Connect
    • About
    • Contact Us
    • Social
  • Channels
    • Miami
    • New York
LEADERBOARD+1-2.png
LEADERBOARD+2.png
IMG_0346.JPG

Will There Finally Be An Ownership Shake-Up At The Standard, High Line Hotel?

October 2, 2017

Could another shake-up becoming to the New York hospitality industry? Earlier this summer rumors began to surface that Standard International, the hospitality firm founded by hotelier Andre Balazs, which originally bought out The Standard, High Line from other investors in 2014 for $400 million, is in late-stage talks to unload the asset. Balazs built the hotel in 2009 with $240 million in funding from Dune Capital Management and Greenfield Partners. In 2013, Balazs sold an 80% steak in Standard International to an investor group before stepping down as chairman earlier this year (2017). Forbes is reporting that Gaw Capital, a private equity fund led by Goodwin Gaw, has made a discounted offer that is moving fast toward closing in the $300 million range. Gaw pointed to low vacancy rates and a city-wide oversupply of hotel rooms led to their ability to offer $60 million under previous offers. The Standard, High Line features 337 hotel rooms and was designed by Ennead Architects. 

IMG_0345.JPG
IMG_0344.JPG
In Chelsea, Hotels, News, Commercial, Meatpacking District, Manhattan Tags Andre Balazs, Hotels, Chelsea, Standard International, The Standard, High Line, Ennead Architects, Commercial, Gaw Capital, Manhattan, The High Line, Meatpacking District, High Line, News
← New Renderings Unveiled of Jackson Park, Tishman Speyer's New Long Island City RentalsDouglas Elliman’s Raphael De Niro and Maggie Leigh Marshall Tapped to Oversee Sales at The Fitzroy, Set Along the High Line in West Chelsea →

Subscribe

Sign up to stay up to date with the latest in New York residential & commercial real estate news and content. 

We respect your privacy.

Thank you!

Latest Posts

Featured
Mar 18, 2025
The Slope on Fifth Tops Off in Park Slope, Brooklyn
Mar 18, 2025
Mar 18, 2025
Mar 12, 2025
Construction on 989 Sixth Avenue Designed By C3D Architecture Reaches Halfway Point
Mar 12, 2025
Mar 12, 2025
Mar 10, 2025
Naftali Group’s Williamsburg Wharf Welcomes First Retail Lease with Chef Eyal Shani
Mar 10, 2025
Mar 10, 2025

Subscribe

Sign up to stay up to date with the latest in New York residential and commercial real estate news and content.

We respect your privacy.

Thank you!

Copyright @ PROFILEnewyork - 2018

PROFILEnewyork takes no ownership of any imagery unless otherwise noted.