Capital One, the first Indian company to offer its guests the opportunity to rent an apartment, is opening its first new apartment in New Jersey this month.
The building, at 1451 Avenue of the Americas, will be the first of its kind in the country.
The hotel, which has just opened, will offer a private room with a view of New Jersey’s largest city and will be available for booking from February 26 through April 6.
It will be owned and operated by a group of Indian entrepreneurs, including Manish Gopalakrishnan, who also owns the Indian National Airlines, and Ankit Bhalla, the former head of the IT company Infosys.
The New Jersey hotel is owned by the New York-based real estate developer BK Towers, which had recently bought the luxury hotel in Singapore.
It is the first time a New Jersey property has been leased to an Indian company, which will include other local companies as well.
“This is a landmark building,” said Pankaj Kothari, executive director of the Capital One Development Group.
“The city and its people have seen the potential of this space, and they’ve embraced it.
The entire region, including the New Jersey, is very excited to welcome this innovative, affordable space to New Jersey.”
The hotel will be located in a historic, four-story building that opened in 1877, according to the company.
The developers plan to offer a range of services including food, entertainment and dining, with room rates starting at $600 per night.
The owners are not yet looking for an investor, but the owners have partnered with the New American Group, which manages the New Brunswick waterfront and other properties in New Brunswick, according the company’s website.