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Li Hui Lo acquires Midtown hotel for $37M
17-story hotel houses 92 rooms near Penn Station, Madison Square Garden
After a recent dive into the Financial District, hotel investor Li Hui Lo is making moves in Midtown. Lo’s N.Y. Times Square Hotel Group bought the Wingate by Wyndham Midtown Manhattan for $37.2 million.
Lo closed on the 17-story, 92-room hotel at 235 West 35th Street, one block north of Madison Square Garden, on Nov. 5, according to property records filed with the city Tuesday.
The sellers, Staten Island-based restaurateurs Lisa and Simon Lou, paid $2.6 million for the property in 2003 before spending $20 million to build the hotel in 2005.
Lo’s previous hotel projects include a new Peter Poon-designed, 31-story hotel at 120 Water Street in the Financial District, which N.Y. Times Square Hotel Group filed plans for last December.
The developer acquired the site at 120 Water Street for $15 million in April 2014.