The Real Deal New York

Radisson Lexington sells for $335M

May 12, 2011 11:25AM

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.

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]

One Response to “Radisson Lexington sells for $335M”

  1. February 06, 2012 at 10:19 am, Sales Pick Up in New York City’s Hospitality Market in 2011 - PropertyShark BlogCenter said:

    […] Date: 06/01/2011 The Radisson Lexington hotel sold for $333,700,000, not very far from the initial $335 million estimation. This translates into $468,000 per room for the hotel located on Lexington Avenue that was bought […]