NEWS | RobertDouglas Advises a Partnership of Institutional Private Equity Funds on the Sale of Tarrytown House Estate on the Hudson, Tarrytown, NY
New York, NY – September 20, 2016 – RobertDouglas announced that it 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.
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.
“This is a one-of-a-kind property and an exciting transaction,” commented David Smith, a Senior Associate with RobertDouglas. “Tarrytown House’s sprawling grounds, its outstanding location 24 miles north of Midtown Manhattan, and its deserved reputation as the region’s premier conference center hotel made it a compelling investment opportunity. The estate is a unique piece of New York history and we are excited to see its new owners execute on their business plan.”
“Tarrytown House satisfied many of the characteristics hotel investors are seeking today – irreplaceable real estate, attractive going-in yield, a high-rated market with dynamic demand generators, and the ability to create value with any number of potential initiatives,” said Evan Hurd, a Senior Director with RobertDouglas. “As a result, a broad range of investors expressed interest in the hotel.”
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RobertDouglas is a real estate investment banking firm with offices in New York, Los Angeles and San Francisco that specializes in the sale, financing and equity capitalization of hotel, resort and gaming properties throughout North America. Founded by two of the hotel industry’s pre‐eminent finance professionals, Rob Stiles and Doug Hercher, RobertDouglas offers exceptional domestic and international institutional investor and lender relationships. RobertDouglas combines the capital markets sophistication of top-tier investment banks with detailed hotel underwriting and asset management experience, providing the firm with unique capabilities in an underserved market. For more information, contact info@robert‐douglas.com or go to www.robert-douglas.com.
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