MCR Development
(MCR Investors, MCR Hotels)
1503 Lyndon B Johnson Fwy Suite 300 Farmers Branch, TX 75234
People:
MCR Development NYC portfolio
$565.5 million -specialty 68%, hotel 31%; Queens 68%, Manhattan 31%*
397th largest portfolio by dollar value
17,283,970 sqft – specialty 98%, hotel 1%; Queens 98%, Manhattan 1%
21th largest by SF
2 properties – Manhattan 50%, Queens 50%
3551th largest
23 residential units – Manhattan 100%
3594th largest by residential units
0 foreclosures, 0 bankruptcies, 1 other court case.
Company Activity past 24 months:
Borrower company: 2 for $310 million
Top Ten Associated Companies:
Western Alliance Bank (1), Host Hotels & Resorts (1), Barclays (1), Bank of Montreal (1)
Top Ten Associated People:
Adam Scotto (1)
Recent activity as company:
• MCR Development borrowed $20 million from Bank of Montreal for 2 Lexington Avenue on January 13, 2026.
• MCR Hotels borrowed $290 million from Barclays for Hook creek on June 05, 2024.
• Solil Management ground leased 2 Lexington Avenue valued at $179.8 million to MCR Hotels on August 17, 2023.
• MCR Development and Island Capital Group borrowed $250 million from Host Hotels & Resorts for 819 7 Avenue on April 19, 2022.
• Host Hotels & Resorts sold 819 7 Avenue for $323.3 million to MCR Development and Island Capital Group on April 19, 2022.
• MCR Development borrowed $26.1 million from Western Alliance Bank for 49 West 43 Street on September 04, 2020.
• Rockpoint Group sold 49 West 43 Street for $40.8 million to MCR Development on September 04, 2020.
Latest Stories:
• MCR Development signs $20M initial loan for hotel in Gramercy (January 16, 2026)
• MCR Hotels signs $290M refi for TWA Hotel at JFK, up from $270M (June 14, 2024)
• MCR signs $30M refi loan with Maxim Capital Group for hotel in Midtown West (December 12, 2023)
• MCR, Island Capital pay $323.3M to Host Hotels for Times Square Sheraton (May 04, 2022)
• $75M note on RFR’s Gramercy Park Hotel sold (January 25, 2021)
Court Records:
Properties: