Deal sheet    Single Deal
370 Canal Street|Sales|02/21/2008
  • Event Sales
  • Address 370 Canal Street
  • Price $ 83,500,000
  • Borough Manhattan
  • Neighborhood Tribeca
  • Publication Date 04/01/2008
The future site of a Sheraton Hotel sold for $83.5 million. The hotel, slated to be completed later this year, is the second unfinished hotel that McSam sold to Rhode Island-based Magna Hospitality Group in February; the developer also sold 505-513 West 43rd Street to Magna for $42 million. Additionally, McSam purchased a commercial building at 6-12 Water Street for $27 million and a parking lot at 431 West 33rd Street for $24 million (see below).