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Ian Schrager Company: A Legacy of Innovation in New York City


In the world of hospitality and real estate development, Ian Schrager is a name synonymous with innovation, luxury, and a pioneering spirit. As the founder and visionary behind the Ian Schrager Company, he has left an indelible mark on the industry, redefining the concept of boutique hotels, entertainment venues, and residential properties. With a career spanning decades, Ian Schrager has consistently pushed the boundaries of design and hospitality, creating iconic spaces that have become cultural landmarks.

Ian Schrager Company: A Brief History of a Brooklyn Visionary

Ian Schrager was born in Brooklyn, New York in 1946, began his career in the hospitality industry in the early 1970s, with a partner and childhood friend, Steve Rubell. Together, they opened the legendary Studio 54 nightclub in New York City, a cultural phenomenon that epitomized the glamour and excess of the disco era. Studio 54 became an iconic symbol of the 1970s and a symbol of the Schrager-Rubell partnership’s flair for creating immersive and unforgettable experiences.

However, it was in the early 1980s that Ian Schrager embarked on a new chapter that would redefine luxury hospitality. Teaming up with renowned architect and designer Philippe Starck, Schrager opened Morgans Hotel in New York City in 1984. Morgans was the first of its kind—a boutique hotel that combined impeccable design with a personalized guest experience. This innovative approach laid the foundation for the Ian Schrager Company’s future endeavors, as well as the boutique hotel movement as a whole.

Innovations in Hospitality


After leaving the Morgans Hotel Group in 2005, Schrager launched his namesake, Ian Schrager Company. This new venture quickly became known for its pioneering approach to hospitality, introducing a series of groundbreaking concepts:

Boutique Hotels

Schrager’s boutique hotels, including The Royalton and The Paramount, brought a new level of sophistication and style to the hotel industry. Each property featured unique design elements, fostering a sense of intimacy and exclusivity that resonated with travelers seeking more than just a place to stay.

Public Spaces

Schrager’s hotels are renowned for their vibrant public spaces, such as lobbies and restaurants, which double as social hubs. These spaces are designed to encourage interaction among guests and locals, creating a dynamic and inclusive atmosphere.

Timeless Design

Collaboration with visionary designers, such as Philippe Starck and Julian Schnabel, helped the company create visually stunning and timeless interiors that continue to inspire the industry.

Entertainment Ventures

Beyond hotels, the company ventured into entertainment and nightlife, launching concepts like the Gramercy Park Hotel and the Public Hotel, which seamlessly integrated luxury accommodation with nightlife experiences.

Residential Properties

The Ian Schrager Company expanded its reach into the residential real estate market, developing high-end residential properties that embody the same commitment to innovative design and luxury living.

Schrager’s commitment to excellence and innovation has earned his company a reputation for setting industry standards. His philosophy revolves around creating spaces that inspire and excite, catering to a new generation of travelers and urban dwellers who value design, authenticity, and social engagement.

50 Gramercy Park North

This iconic building, also known as the Gramercy Park Hotel, has a storied history dating back to its construction in the 1920s. Legendary residents and guests over the years include everyone from David Bowie, Debbie Harry, and Sid Vicious to Martin Scorsese, Jennifer Anniston and Jimmy Fallon. Ian Schrager purchased the property from the Weissberg family in 2003, and along with then-partner Aby Rosen, revitalized the storied building, ushering the mixed-use property into yet another renaissance.

Historical Significance

Built in 1925 by the renowned architect Robert T. Lyons, 50 Gramercy Park North has long been a symbol of elegance and luxury in New York City. The building’s Art Deco design and timeless aesthetic have made it a historic landmark, blending seamlessly with the surrounding Gramercy Park Historic District.

Gramercy Park Access

One of the most coveted features of residing at 50 Gramercy Park North is the access to Gramercy Park itself. Gramercy Park is one of the city’s few private parks, accessible only to those who live around its perimeter or hold keys to its gates. Residents of this address enjoy the privilege of strolling through the park’s beautifully manicured gardens, providing a tranquil escape from the bustling city.

Artistic Legacy

Art has always played a prominent role at 50 Gramercy Park North. The building boasts an impressive art collection, including works by renowned artists such as Julian Schnabel, Andy Warhol, and Jean-Michel Basquiat. These masterpieces adorn the walls, creating a living gallery for residents and guests to appreciate.

Cultural Hub

The Gramercy Park neighborhood itself is a cultural hub, home to numerous restaurants, cafes, boutiques, and theaters. It’s a vibrant, yet serene enclave in the midst of the bustling city, attracting a mix of artists, writers, and professionals.

Schrager released his interest in the hotel in 2010, leaving Rosen’s company, RFR, as the sole proprietor. This was unfortunate for the iconic space, as it began to yet again fall into disrepair, and was ultimately shuttered in 2020 during the COVID-19 pandemic. Fortunately, the building has recently been acquired by MCR Hotel Group, and is planning a grand reopening for 2025. 40 Gramercy Park West is not just a hotel, it’s a symbol of timeless elegance, exclusivity, and a connection to New York City’s rich history and culture.

40 Bond: A Paradigm of Contemporary Luxury Living

40 Bond is an iconic residential building project located in the heart of New York City’s NoHo neighborhood. Designed and developed by the renowned Ian Schrager Company, this building represents a significant milestone in the fusion of luxury living and innovative architectural design.

Architectural Marvel

Designed by the renowned Swiss architects Herzog & de Meuron, 40 Bond is a striking example of contemporary architecture that seamlessly blends into the historical fabric of the neighborhood. One of its most distinctive features is the façade, which consists of a unique green glass curtain wall embedded with cast glass ‘I-beams.’ This distinctive design element adds depth, texture, and a sense of rhythm to the building’s exterior.

Luxurious Living

The apartments at 40 Bond offer a new standard of luxury living. With a focus on both aesthetics and functionality, each residence features high-end finishes, state-of-the-art appliances, and floor-to-ceiling windows that provide abundant natural light and breathtaking views of the city.

The building also boasts a host of amenities, including a lush landscaped courtyard, a 24-hour doorman, a fitness center, and private parking, ensuring that residents can enjoy a lifestyle of utmost convenience and comfort.

Environmental Sustainability

In addition to its architectural prowess and luxurious features, 40 Bond is committed to environmental sustainability. The building incorporates energy-efficient systems, green building materials, and advanced technologies to reduce its carbon footprint, making it an environmentally responsible addition to the cityscape.

Cultural Significance

Beyond its architectural significance, 40 Bond has contributed to the cultural tapestry of NoHo and New York City. The building has attracted a diverse and influential community of residents, including artists, entrepreneurs, and celebrities, who appreciate its unique blend of style and substance. If you’d like to learn more about living in NoHo, our neighborhood pages can give you a clearer view of what to expect as a local resident.

Legacy and Impact

40 Bond stands as a testament to Ian Schrager’s vision and commitment to redefining luxury living. The project has not only raised the bar for residential real estate but has also become an architectural landmark, celebrated for its bold design and cultural significance. If this gorgeous building sounds like home to you, reach out to the NewDevRev team with any questions.

Ian Schrager Company’s 40 Bond is more than just a building; it’s an embodiment of contemporary luxury living, architectural innovation, and sustainable development. Its striking design, commitment to sustainability, and cultural influence make it an enduring symbol of modern urban living in New York City.

Edition Hotels: A Partnership with Marriott

In 2007, Schrager announced a new collaboration with Marriott International, kickstarting the lifestyle boutique brand EDITION Hotels. Initially planning to open 100 locations on multiple continents, EDITION properties can now be found scattered across the globe, including locations in New York City, Miami Beach, Abu Dhabi, Shanghai, and West Hollywood.

Just last year, Schrager declared that the in-progress Madrid EDITION would be his last with the brand, as he was to focus on his “passion project”. PUBLIC Hotels, the high-tech, “luxury for all” boutique hotel line Schrager launched in 2017 will become the famed developer’s main focus.

Legacy and Influence: A Commitment to Excellence

The Ian Schrager Company’s influence extends far beyond its own properties. Ian Schrager’s innovative spirit has inspired a generation of hoteliers and designers, reshaping the hospitality landscape worldwide. Boutique hotels, once a niche concept, are now a dominant force in the industry, thanks in large part to Schrager’s pioneering vision.

The Ian Schrager Company, under the visionary leadership of Ian Schrager himself, stands as a testament to the power of innovation and design in the world of hospitality and real estate. With a career marked by groundbreaking concepts and iconic properties, Schrager’s legacy continues to shape the way we think about luxury, lifestyle, and the spaces we inhabit. As the Ian Schrager Company continues to evolve and adapt to the changing landscape, one thing remains constant: its unwavering commitment to redefining the boundaries of hospitality and design.

As always, the NewDevRev team is always available to fill you in on a wide range of properties across New York City. Whether you have questions about new developments, the process of purchasing property, or just want to learn more about a building’s history, we’re here for you!