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AC 711 Hotel Partners, TSQ Development and 711 Atlas Development are pleased to announce the October 1, 2025 opening of their new 423 guest room upscale hotel in Times Square, New York. Located at 711 7th Avenue and West 48th Street in Manhattan, the “bullseye” for most hotel brands, this site is likely the last to be developed in Times Square, due to a 2021 zoning change.

In addition to the 423 guest rooms, the hotel includes through three Food & Beverage venues comprising 7,500 sf. Featured is an indoor/outdoor rooftop bar overlooking Times Square, accessed by a dedicated high speed elevator. There will be no other bar in the area with a direct view of Times Square itself. Carnegie Diner, an iconic New York brand, has been signed on as Tenant for the three venue. The combined Food & Beverage gross revenues are expected to exceed $10,000,000 in the first year of operation. Here is their link:

The Sponsor secured a 99-year ground lease early in 2021, including the unusual option to buy the ground in 20 years.

Plans were filed in April 2021 and the foundation permit approved, thereby vesting our right to build the hotel ahead of the 2021 New York City zoning change which makes approval of future hotels nearly impossible.

This hotel is the sponsor’s 4th VOCO in New York City and 2nd in Manhattan. The VOCO brand is new to the USA, but well established in Europe and the Middle East. Due to the stresses of COVID, tens of thousands of New York hotel rooms closed that will never re-enter the marketplace. Some will be torn down; other will be re-purposed. The City of New York has taken over 75 hotels for migrant housing; there will be no release of these hotels back into the market for the foreseeable future. The 2021 zoning changes make the future development of hotels extremely difficult to nearly impossible. The number of rooms in the market will most probably never recover to pre-COVID levels, making the outlook for both the remaining and few new hotels even brighter as the market compresses.
As of March 2025, the building structure has been completed and the building is 73% complete. The hotel is on schedule to open in October 1, 2025.
The hotel will feature 5 Electronic and 3 static advertising signs totaling more than 7,500 sf. on different faces of the building. These signs are anticipated to generate between $1M and $3M in annual net revenue for the hotel and will also be used to advertise the hotel, a huge advantage over almost all of the competition.
A Casino License is going to be granted in either Times Square or an adjacent area within the next year, which will further drive up the demand for rooms.
The Sponsor has contributed $31M in equity for the project. The Job Creating Entity closed on a loan in June 2023 from Beachpoint Capital Management of up to $120M in additional funding as a development loan. The Sponsor’s cash equity, sitting behind the EB5 Investor equals nearly 20% of the entire project cost
EB5 funds will be used to fund a portion of construction, reduce the $120M development loan to $110M, fund a portion of interest on the development loan, and related legal costs. The funds will be invested as preferred equity into the Job Creating Entity.

The operating projections were developed in consultation with the Hotel Management Company. The franchisor (IHG) provided revenue guidance.

The VOCO Hotel Times Square affords a unique opportunity for prudent EB5 investors to participate in the premier hotel market in the USA, with a seasoned development team that has proven its success across multiple hotels in the same marketplace.