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From the May issue: Hotel sales accounted for nearly 45 percent of the dollar volume in commercial deals from mid-March to mid-April of this year, despite the completion of just a single deal: the sale of the Helmsley Hotel at 212 East 42nd Street to Starwood Hotels and Resorts, which plans to brand the building a Westin. That deal followed a quiet previous four weeks for hotel deals, when just $43.87 million worth of hotel transactions closed. As usual, multi-family sales were the most frequent in the commercial segment, responsible for 14 of the 30 commercial deals consumated between March 11 and April 10. Click here to see the full Deal Sheet summary. TRD
