The Real Deal New York

Hidrock sells SpringHill Suites in Midtown for $82M

Hong Kong investment firm Keck Seng makes debut NY buy
July 30, 2014 11:00AM

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.

Keck Seng bought the W Hotel in San Francisco for $90 million in 2009, as previously reported.

Jeff Davis, managing director of the hotels and hospitality group at JLL, and Gilda Perez-Alvarado, executive vice president of the group, represented the seller. [NYP, 2nd]Mark Maurer