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Radisson Lexington sells for $335M

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The Radisson Lexington was sold for $335M

DiamondRock Hospitality is finalizing a deal to purchase the 712-room Radisson Lexington Hotel at 511 Lexington Avenue between 47th and 48th Streets for $335 million, or $470,000 a room, according to the Wall Street Journal.

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That’s a step up from the $443,700 per room that RLJ Development paid for the 775-room Double Tree Metropolitan hotel three blocks north in December.

Sellers of the Radisson include the Blackstone Group, who bought the property as part of the MeriStar Hospitality portfolio in 2006, a Goldman Sachs group fund and Highgate Holdings. [WSJ]

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Blackstone GroupGoldman SachsHighgate