Assignment Overview
RobertDouglas advised a partnership of institutional private equity funds on the sale of the Tarrytown House Estate on the Hudson to a consortium of New York-based real estate investors. Tarrytown House offered many intriguing investment characteristics that buyers were seeking, including irreplaceable real estate, attractive going-in yield, location in a high-rated market with dynamic demand drivers, and the ability to create value with any number of potential business plans.
Property Overview
Recognized as the nation’s first conference center hotel, Tarrytown House is situated on 26 picturesque acres and features several historic structures among its 14 buildings, including nineteenth century mansions formerly owned by Mary Duke Biddle and Thomas M. King. In addition to its 212 guestrooms, some of which overlook the Hudson River or offer views of the Manhattan skyline, the property also features 28,500 square-feet of IACC-certified indoor meeting space, the award-winning Cellar 49 restaurant, indoor and outdoor swimming pools, and a full-service fitness center.
Deal Highlights
| Client: Buyer: Sale Proceeds: Key Count: | Partnership of institutional private equity funds Consortium of New York-based real estate investors Confidential 212 |
