US: Related Companies is said to be seeking a buyer for its Equinox Hotel in Hudson Yards, New York.
According to Bloomberg, Related Companies – owned by billionaire Stephen Ross – is working with an advisor to drum up interest in the mixed-use property. The site includes a hotel, office and retail space and is allegedly fetching more than $200 million.
Equinox Hotel first opened in 2019 with 212 keys, a fitness club and spa as well as a restaurant and bar. It forms part of a residential building at 35 Hudson Yards which includes a restaurant and outdoor terrace.
The Real Deal reports that Equinox is expected to remain as property manager with plans to expand the brand across the US. Currently, the New York hotel is the only location open under Equinox. In a statement released in 2019, additional locations had been confirmed including LA, Santa Clara, Seattle, Chicago and Houston.
Related, which owns a sake in Equinox, recently put forward plans for a 175-room Equinox hotel and 150 luxury condos in Deauville Beach Resort, Miami Beach.
The development firm has also announced a new rental brand called The Set which is set to launch this autumn, according to The Wall Street Journal. The Set is aimed at business executives who divide their time between their home and a place near their office, with a 270-unit building soon to open at 455 10th Avenue also in Hudson Yards.