Real EstateAcquisitionsMCR/MORSE Development Acquires Gramercy Park Hotel

MCR/MORSE Development Acquires Gramercy Park Hotel

NEW YORK—MCR acquired the Gramercy Park Hotel in New York City. MORSE Development, which developed the TWA Hotel at New York City’s JFK Airport, will reopen the hotel, which has been closed since 2020. A renovation will revitalize the lobby, the first-floor restaurants and bars, and the hotel’s 197 guestrooms and suites. The 7,000-square-foot rooftop bar will also receive a full restoration.

In 2019, MCR/MORSE opened the TWA Hotel at JFK Airport in the landmark TWA Flight Center. During the four-year development project, MCR/MORSE worked with 22 government agencies—including the FAA and Finland—14 preservationist groups and 174 firms. The company also amassed a collection of 3,000 TWA artifacts.

MCR’s New York City portfolio also includes The High Line Hotel, an 1895 Gothic Collegiate in a former Episcopalian seminary; the Sheraton New York Times Square; the Royalton New York and; The Lexington Hotel.