995 Fifth Avenue
New York City, New York
Opening date: 1927
Closing date: 2005
Architect: Rosario Candela
Floors: 16

The Stanhope Hotel located at 995 Fifth Avenue and East 81st Street in New York City, across Fifth Avenue from Central Park and the Metropolitan Museum of Art. It was constructed in 1926 as The Stanhope Apartment Hotel and designed by Rosario Candela.

New York Real estate developer Gerald Guterman's Hanover Companies Purchased the Stanhope Hotel for $19 million in 1986. NHC Hospitality was engaged by Hanover for the Restructuring including the supervision of the renovation, to hire a first class staff and manage the hotel. Guterman undertook a $26 million Louis XV-style renovation with plans to sell the 132 rooms and suites as cooperatives while running the building as a luxury hotel. When the hotel reopened following renovations, it was among the first hotels in the city to pass the room rate over $300 per night. Due to Tax law changes during the 1986 Tax Act, the Sale of Condos and Co-ops unfortunately, did not materialize. The expected profit from operations was not realized and the Hanover subsidiary that owned the Stanhope filed for Chapter 11 bankruptcy protection in February 1989. The hotel was purchased by Tobishima Associates at a November 1989 bankruptcy auction for $76 million. The all in cost at that point was +/- $63,000,000. NHC managed the property until 1990, including one year after Tobishima had purchased the hotel.