Related Seeks Buyer for Equinox Hotel at NYC's Hudson Yards
Asking price expected to top $200M for fitness-oriented hotel that opened in 2019.
The Related Cos. is seeking a buyer for the Equinox Hotel at Hudson Yards in New York City, a “healthy living,” fitness-oriented lodging, which opened in 2019 shortly before the pandemic began, according to a report in Bloomberg.
The company is said to be working with an advisor to solicit interest in the property, which includes office and retail space, and is hoping to sell the new hotel for more than $200M.
Equinox is attached to a residential building at 35 Hudson Yards in the upscale mega-development. It includes an outdoor terrace and a restaurant known as Electric Lemon.
Equinox, which bills itself as “luxury fitness club” that manages spas and fitness centers that were voted “Best Gym in America” by Fitness Magazine, will continue to manage the property and plans to expand the brand, Bloomberg reported.
The hotel rooms at the Equinox include a proprietary “sleep system” that features mattresses made entirely from natural materials, yoga accessories and a minibar stocked with vitamins, supplements and health-oriented snacks instead of booze, according to the hotel’s website.
The pet-friendly Equinox also claims that all of the food offered at the hotel is informed by “cutting-edge research” by dieticians.
When the Equinox Hotel opened in 2019, Equinox Chairman Harvey Spevak said the company was planning to open a dozen hotels built around the brand known for its sleek design and upscale offerings, including potential projects in Seattle, Houston, Chicago, Miami and Los Angeles.
Thus far, the Hudson Yards location is the only Equinox-branded hotel to be completed.
In March, investment firm Savanna sued Equinox, claiming the fitness company owes $5.3M in unpaid rent at three of its gyms in NYC.
Related, which owns a stake in Equinox, recently announced plans to build a two-tower development on the site of the historic Deauville Beach Resort in Miami Beach, including a 175-room Equinox Hotel and 150 luxury condos.
In May, Related told the Wall Street Journal it is planning to launch a rental apartment brand this fall known as The Set, aimed at executives who have hybrid work schedules in New York City. Related is opening a 270-unit rental building—with furnished studios starting at $5,200/month—at 455 10th Ave. in Hudson Yards. Amenities geared to executives at The Set will include wine tastings and concierges.