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19 West 31st Street
Update
05/15/23
Historic NoMad Hotel Scooped Up for $47M
A historic, 10-story building, located at 19 West 31st Street in Manhattan's NoMad neighborhood, has been sold for $47 million. A loan on the structure was purchased by Capstone Equities, from Deutsche Bank, who obtained the property in a previous foreclosure.
Originally constructed in 1895, the 37,213-square-foot building first housed the head office of LIFE Magazine until 1936. It was later converted into the Herald Square Hotel in 1965, and it presently contains the "Life Hotel". In addition to 98 guest rooms, the hotel features a lobby bar and lounge. It also has a basement bar, which is rumored to have been used as a speakeasy by LIFE's employees during the prohibition era.
The sale is great news for this NYC gem as, for the past couple of years, the building has been shuttered, with the hotel closed for business. Capstone Equities has completed a UCC foreclosure and plans to reopen the hotel (under the same banner) this summer, with rooms available to book as soon as August 1st.
