Global Holdings, the international real estate development and investment firm led by Chairman and Founder Eyal Ofer, yesterday announced the acquisition of the Mondrian Park Avenue, a 190-key boutique hotel in Manhattan’s NoMad neighborhood.
JLL Hotels & Hospitality announced today that the sale of a 75% interest in the Mandarin Oriental, New York, to affiliates of Reliance Industries Ltd. has been completed. JLL represented the sellers in the sale of their ownership stake.
JLL’s Hotels & Hospitality Group announced today that it has closed the sale of 525 Lexington Ave., a 35-story, 655-key, full-service hotel in New York City’s Midtown East neighborhood. The parties have agreed to not disclose the purchase price.
A designated landmark building, the 1924-built property previously operated as a Marriott International branded hotel focused on corporate and business travel before closing at the onset of the Covid-19 Pandemic.
Located at 33 Peck Slip, on the corner of Peck and Front Street, Mr. C Seaport is located in the heart of Manhattan’s Seaport District, within walking distance of the Financial District, Pier 17 and the Tin Building by Jean-Georges, a 53,000-square-foot marketplace that opened in 2022.
The addition of The Tuscany brings to nine the total number of hotels in CHG’s portfolio and the 124 units added under this MLA increases CHG’s total units under long-term lease to 977.
Host Hotels & Resorts, Inc. (NASDAQ: HST) today announced that it has sold the 1,780-room Sheraton New York Times Square Hotel for approximately $373 million, which represents a 28.0x EBITDA multiple1 on 2019 EBITDA.
Navika Group of Companies and Blue Sky Hospitality Solutions (BSHS) Management Company today announced the acquisition of Andaz Wall Street, which has rebranded to Hyatt Centric Wall Street New York. The hotel plans to resume operations and begin welcoming guests on January 26, 2022.
Marcus & Millichap (NYSE: MMI) announced the sale of Martinique New York on Broadway, a 531-room landmark hotel on the corner of 32nd Street and Broadway in Manhattan. The asset was purchased for $55.5 million with an approximated total development cost of $110 million.
MCR has acquired the 725-room The Lexington Hotel for $185 million, which equates to $255,000 per guestroom. The hotel was purchased by MCR in a joint venture transaction with Island Capital Group and Three Wall Capital LLC.