AIG is trying to sell this Midtown hotel for more than $200M

The company wants to offload Embassy Suites on West 37th Street

New York /
Sep.September 28, 2018 04:45 PM

AIG Global Real Estate CEO Douglas Tymins and 60 West 37th Street (Credit: AIG and Hilton)

AIG Global Real Estate is trying to offload a Manhattan hotel for more than $200 million.

The company has enlisted Eastdil Secured to find buyers for the Embassy Suites by Hilton New York Midtown Manhattan, according to Bloomberg. The 310-room hotel is on West 37th Street.

The 39-story hotel opened in January and has been fully operational since July. It’s the only location in New York

AIG owns the majority stake of the hotel, which was co-developed by Hidrock Properties and the Buccini/Pollin Group, the report said.

Both AIG and Eastdil declined Bloomberg’s requests for comment.

A deal would add to the list of several other prominent sales this year. The Plaza Hotel sold for $600 million to Katara Hospitality, a hotel-centric subsidiary of Qatar’s sovereign wealth fund. This month, Host Hotel & Resorts sold the retail and commercial condo portion of the New York Marriott Marquis to Vornado Realty Trust for $442 million. Host Hotels also sold two W hotels in Manhattan for a combined $361 million. [Bloomberg] — Meenal Vamburkar


Related Articles

arrow_forward_ios
29 West 34th Street and Jeff Sutton of Wharton Properties (Google Maps)
Jeff Sutton will get $9M back from Geox
Jeff Sutton will get $9M back from Geox
CMBS issuance is set to break Great Financial Crisis record, report
CMBS set to break Financial Crisis record
CMBS set to break Financial Crisis record
Aby Rosen dodges liability at Gramercy Park Hotel
Aby Rosen dodges liability at Gramercy Park Hotel
Aby Rosen dodges liability at Gramercy Park Hotel
NYCB CEO Thomas Cangemi (Getty, Cangemi)
NYCB says multifamily loans in good shape, not endangered by rent law
NYCB says multifamily loans in good shape, not endangered by rent law
2 N Lasalle Street & 200 W Jackson Boulevard in Chicago (us.jll.com, hearncompany.com)
NY’s Foundation Capital, Nightingale aim to buy Loop office towers
NY’s Foundation Capital, Nightingale aim to buy Loop office towers
Padel (it’s a sport!) club to open in Brooklyn warehouse
Padel (it’s a sport!) club to open in Brooklyn warehouse
Padel (it’s a sport!) club to open in Brooklyn warehouse
Food52 CEO Amanda Hesser, Rudin Management president Eric Rudin and 1 Dock 72 Way in Brooklyn (Getty, Rudin)
Rudin’s Dock 72 notches Food52 as second tenant
Rudin’s Dock 72 notches Food52 as second tenant
Will 10 new towers pay for Penn Station?
MTA chair: 10 new towers may not fund Penn Station expansion
MTA chair: 10 new towers may not fund Penn Station expansion
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...