Relevant:
- Sunstone Hotel Investors to Turn Over W San Diego to Mortgage Holders
- Ground Lease On Times Square Hotel Once Valued at $126M Sells For $4M
- Rapper Jay-Z Sues Hedge Fund Highland
- California Hotel Foreclosures Jump 91% as Lenders Seek to Sell Properties
- Trump's D.C. Hotel is a Frightful Dump--And a Scary Metaphor for the Trump Administration
2018-07-16 — therealdeal.com
Arden Group entered contract to acquire the 29-story, 240-key hotel at 120 West 57th Street for $41 million. When the deal closes in the third quarter, New York REIT will have liquidated its entire portfolio, except for a 50.1 percent stake in One Worldwide Plaza. Ark Partners developed the Viceroy in 2013, and that same year, sold the leasehold for $148.5 million to New York REIT. The deal marked the first hotel purchase for the real estate investment trust, then known as New York Recovery REIT.
...
In addition to Vicecroy's mounting expenses, the Manhattan hotel market is in a radically different place. The borough saw a slump in RevPAR -- or revenue per available room -- and pricing power, but there appears to be turning around in recent months.
source article |
permalink |
discuss |
subscribe by:
|
RSS |
email 
Comments: Be the first to add a comment
add a comment | go to forum thread
Note: Comments may take a few minutes to show up on this page. If you go to the forum thread, however, you can see them immediately.
