April 3, 2017
Two successful boutique hotels are apparently not enough for GIT Group, which is launching plans for up to 20 more properties in Manhattan.
GIT is hunting for new investor parters to help it build these properties. To start with, the developer is looking for $700,000 in equity to help build its next planned project, at 23rd St. between Park and Madison Avenues.
The new properties will consist of suites, which can be rented as hotel rooms or apartments. While most apartments can’t be rented legally on Airbnb, hotel status provides this option, creating a broader market than traditional hotels or apartments.
“It brings more clients and more opportunity,” said Benny Bern, GIT’s co-founder and CEO.
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