Andrew Roufail Sells Holiday Inn in Hell’s Kitchen for $27M

Real estate investor Andrew Roufail, owner of Roufail Real Estate Holdings, has offloaded a hotel in Manhattan’s Hell’s Kitchen neighborhood for $26.5 million, according to city records made public Wednesday.

Roufail, using the entity GLSC 48 Special, sold the 177-key Holiday Inn Express Manhattan Midtown West hotel at 538 West 48th Street to New Jersey-based hotelier Maheshchand Ratanji, who used the entity TSQ Hotel, records show.

Roufail signed the deal for the seller, while Ratanji signed for the buyer, according to records.

It’s unclear who brokered the deal. Neither Roufail nor Ratanji could be reached for comment.

Roufail, along with retiring hotelier Sam Chang’s McSam Hotel Group, bought the 11-story hotel between 10th and 11th avenues in 2014 for $16.5 million, property records show. The property is about two blocks from the Hudson River pier that hosts the decommissioned aircraft carrier known as the Intrepid Museum.

It’s unclear why Roufail decided to offload the property, but the deal comes after the investor sold off another Manhattan hotel with Chang in December 2024. Roufail and Chang sold the 289-key Radisson Hotel New York Wall Street at 52 William Street in the Financial District to Slate Property Group for $94.5 million, as Commercial Observer previously reported.

Meanwhile, Ratanji has been scooping up some hotel properties in Manhattan recently. In October 2024, Ratanji bought the 40-key hotel at 449 West 36th Street in Hudson Yards for around $14 million, Crain’s New York Business reported at the time.

That deal came after Ratanji also purchased hotels at 1090 Myrtle Avenue in Brooklyn’s Bedford-Stuyvesant neighborhood for $22 million and 611 Degraw Street in Gowanus for $9.1 million, Crain’s reported.

Isabelle Durso can be reached at idurso@commercialobserver.com.