Hong Kong-based Keck Seng Investments, which largely owns hotels and office buildings, broke into the New York City market with its first acquisition there: a SpringHill Suites by Marriott in Midtown for $82 million.
Hidrock Realty sold the 173-room, Gene Kaufman-designed property at 25 West 37th Street for $82 million. The hotel opened last year. Hidrock also developed the Courtyard at Marriott, at 960 Sixth Avenue, which it does not plan to sell. [more]