Midtown West hotel with $21M judgment set for January auction

A referee managing the foreclosure sale of the 79-key hotel at 129 West 46th Street, in Midtown West, Manhattan, set the auction for January 14, 2026, a notice of sale document filed December 16, 2025, said.

Hotel operators Paramdeep Singh and Manmeet Singh own the building, which they bought just before the pandemic from Apple Core Hotels in July 2019 for $24 million. At the time, they borrowed  $16.75 million from W Financial .

W Financial filed a pre-foreclosure action in June 2024, and this auction is a result of that case, 850190/2024 LINK.

The owners sought to sell the property in 2024, asking $28 million, a setup from the time shows: 129 West 46th Street marketing flyer. The marketing material said at the time that the building was on a month-to-month lease as a homeless shelter.

The property

The hotel building in Midtown West has 27,250 square feet of built space and 10,394 square feet of additional air rights for a total buildable of 37,660 square feet according to a PincusCo analysis of city data. The parcel has frontage of 37 feet and is 100 feet deep with a total lot size of 3,766 square feet. The zoning is C6-5.5 which allows for up to 12 times floor area ratio (FAR) for commercial. The city-designated market value for the property in 2022 is $12.6 million. The most recent loan totaled $16.75 million and was provided by W Financial on July 29, 2019.

Prior sales and revenue

This property was sold by Apple Core Hotels for $24 million to Paramdeep Singh on July 29, 2019.

The 27,250-square-foot property generated revenue of $4.5 million or $163 per square foot, according to the most recent income and expense figures.

Violations and lawsuits

According to city public data, the property has received one housing violation and $10,200 in OATH penalties in the last year.

The property was involved in two lawsuits and zero bankruptcies over the past two years. The highest value suit was a $16.75 million commercial foreclosure concerning a loan filed on June 4, 2024, by W Financial against Paramdeep Singh, Manmeet Singh and others.

The neighborhood

In Midtown West, The majority, or 75 percent of the 75.9 million square feet of commercial built space are office buildings, with hotel buildings next occupying 14 percent of the space. In sales, Midtown West has the 3rd highest sale turnover among other neighborhoods in the city with $2.6 billion in sales volume in the last two years. For development, Midtown West is the 2nd most active neighborhood among other neighborhoods. It had 38.8 million square feet of commercial and multi-family construction under development in the last two years, which represents 51 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 10 of the 15 commercial properties representing 2,153,184 square feet of the 2,167,128 square feet. The largest owner is Ascot Properties, followed by Durst Organization and then Elo Equity. There are no active new building construction projects on this tax block.

The owner

The PincusCo database currently indicates that Paramdeep Singh owned at least two commercial properties in New York City with 127,928 square feet and a city-determined market value of $41.9 million. (Market value is typically about 50% of actual value.) The portfolio has $98.3 million in debt, with top three lenders as Yellowstone Real Estate Investments, Benefit Street Partners, and W Financial respectively. Within the portfolio, all identified are hotel properties. They are all located in Manhattan.

The owners according to the Department of Housing Preservation and Development includes Paramdeep Singh, head officer and Rajni Rikh, agent. The business entity is Key Hotels LLC.

The surrounding

Within a 400-foot radius of 131 West 46 Street, PincusCo identified eight commercial real estate items of interests occurred over the past 24 months. Of those eight items, two were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $625,015. The most recent of these two items was the filing on December 1, 2025 for a 133,969-square-foot 70 building with 200 residential units at 130 West 46th Street. One of those eight items was a sale which Norges Bank Investment Management and Beacon Capital Partners bought the 912,955-square-foot, 76-unit office building (O4) on 1177 Avenue Of The Amer for $572.3 million from Silverstein Properties and CalSTRS on October 10, 2025. Of those eight items, five were loans above $5 million totaling $1.5 billion. The most recent of the five was Norges Bank Investment Management and Beacon Capital Partners in which borrowed $372 million from Norges Bank Investment Management and Beacon Capital Partners secured by the 912,955-square-foot, 76-unit office building (O4) on 1177 Avenue Of The Amer on October 10, 2025.

Direct link to the property’s ACRIS page and link to DOB NOW portal.