NEWS | RobertDouglas Advises a Partnership of Institutional Private Equity Funds on the Sale of Tarrytown House Estate on the Hudson, Tarrytown, NY

Tarrytown House

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  preeminent  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@robertdouglas.com or go to www.robert-douglas.com. 

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