AC 711 Hotel Partners, TSQ Development and 711 Atlas Development are pleased to announce
the development of a new 422 guest room upscale hotel in Times Square, New York. In addition to the 422 guest rooms, the hotel will generate significant revenue through its three Food & Beverage venues comprising 7,500 sf and including 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. We are in preliminary discussions with several prominent restaurateurs as potential tenants for the Food & Beverage venues.
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. 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.