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    Magna Hospitality

    300 Centerville Road, Suite 300 East
    Warwick, RI 0-2886
    (401) 886-4484
    Website
    [email protected]

    Magna Hospitality is a privately held real estate investment firm that focuses primarily on the hotel business, from operations, marketing, accounting, engineering, and construction. The Rhode Island-based firm was co-founded by Robert Indeglia Jr. in 1998 and has since sponsored several hotel funds for its clients, each with a target fund life of ten years. Today, the firm owns or operates roughly 20 hotels, primarily on the East Coast, and is under active development with a handful more. The firm works with national hotel franchises Hilton, Marriott, Starwood, and Hyatt. In 2014 the firm sold the Holiday Inn in Herald Square and the Hampton Inn near the United Nations for a combined $135 million, a hefty profit over the combined $40 million Magna paid for the two properties years earlier. Magna also has been relatively active elsewhere in recent years, buying Best Western Inns and Hampton Inn in Milwaukee and a Florida Holiday Inn.

    • Event Financing
    • Address 6 Water Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Price $ 66,000,000
    • Publication Date 08/09/2019
    • Event Date 08/08/2019
    • Party 1 Magna Hospitality Group
    • Party 2 M&T Bank
    notes
    The owner secured a loan of $66 million for the Financial District property.
    • Event Financing
    • Address 6 Water Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Price $ 66,000,000
    • Publication Date 08/09/2019
    • Event Date 08/08/2019
    • Party 1 Magna Hospitality Group
    • Party 2 M&T Bank
    notes
    The owner secured a loan of $66 million for the Financial District property.
    • Event Financing
    • Address 6 Water Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Price $ 66,000,000
    • Publication Date 08/09/2019
    • Event Date 08/08/2019
    • Party 1 Magna Hospitality Group
    • Party 2 M&T Bank
    notes
    The owner secured a loan of $66 million for the Financial District property.
    • Event Sales
    • Address 140 West 24th Street
    • Neighborhood Chelsea
    • Borough Manhattan
    • Square feet 140,500
    • Price $ 112,000,000
    notes
    The buyer secured the Chelsea property for $112 million.
    • Event Sales
    • Address 144-10 135th Avenue
    • Neighborhood Jamaica
    • Borough Queens
    • Square feet 114,800
    • Price $ 39,700,000
    • Publication Date 07/30/2018
    • Event Date 07/24/2018
    • Party 1 Magna Hospitality
    • Party 2 ASAP International Holdings
    notes
    The buyer bought the Jamaica property for $39.7 million.
    • Event Sales
    • Address 341 West 36th Street
    • Neighborhood Hudson Yards
    • Borough Manhattan
    • Square feet 81,000
    • Price $ 106,000,000
    notes
    The REIT manager acquired the 224-key DoubleTree Hilton.
    • Event Sales
    • Address 341 West 36th Street
    • Neighborhood Times Square
    • Borough Manhattan
    • Square feet 81,000
    • Price $ 106,000,000
    • Price per foot $ 1,308.00
    notes
    The Singapore-based firm bought its third NYC hotel for $106 million.
    • Event Sales
    • Address 370 Canal Street
    • Neighborhood Tribeca
    • Borough Manhattan
    • Price $ 158,000,000
    notes
    The hotel was sold for $158 million, $428,185 per room.
    • Event Sales
    • Address 231 East 43th Street
    • Neighborhood Midtown
    • Borough Manhattan
    • Price $ 71,900,000
    • Event Sales
    • Address 60 West 36th Street
    • Neighborhood Midtown
    • Borough Manhattan
    • Price $ 63,300,000
    • Event Sales
    • Address 144-10 135 Avenue
    • Neighborhood South Ozone Park
    • Borough Queens
    • Price $ 41,400,000
    • Publication Date 11/01/2014
    • Event Date 09/17/2014
    • Party 1 Field Hotel Associates
    • Party 2 Magna Hospitality Group
    • Event Retail Leasing
    • Address 370 Canal Street
    • Neighborhood Tribeca
    • Borough Manhattan
    • Square feet 15,700
    notes
    The fitness chain signed a lease for a new location.
    • Event Sales
    • Address 59 West 35th Street
    • Neighborhood Garment District
    • Borough Manhattan
    • Price $ 69,500,000
    • Price per foot $ 476,027.00
    • Publication Date 02/01/2012
    • Event Date 12/23/2011
    • Party 1 Magna Hospitality
    • Party 2 Rockbridge Capital
    notes
    The Hampton Inn sold for $69.5 million, or about $476,027 per key, the New York Post reported.
    • Event Sales
    • Address 15 West 45th Street
    • Neighborhood Grand Central
    • Borough Manhattan
    • Square feet 44,836
    • Price $ 43,870,000
    • Price per foot $ 978.45
    • Publication Date 04/01/2011
    • Event Date 02/20/2011
    • Party 1 Magna Hospitality Group
    • Party 2 Walnut Hill Group
    notes
    The Holiday Inn Express sold for $43.87 million. Magna Hospitality Group, a Rhode Island-based hotel investment company, had purchased the Midtown property from the McSam Hotel Group in 2005 for $36.5 million. The property was the city's first Holiday Inn Express, and represented the first major deal in New York City for Magna.
    • Event Sales
    • Address 125 Flatbush Avenue Ext
    • Neighborhood Downtown Brooklyn
    • Borough Brooklyn
    • Price $ 10,800,000
    • Event Sales
    • Address 60 West 36th Street
    • Neighborhood Garment District
    • Borough Manhattan
    • Square feet 20,240
    • Price $ 16,220,000
    • Price per foot $ 801.38
    notes
    The property sold for $16.22 million. McSam's Sam Chang is also developing a hotel on West 35th Street, a block away.
    • Event Sales
    • Address 231 East 43rd Street
    • Neighborhood Grand Central
    • Borough Manhattan
    • Square feet 38,621
    • Price $ 24,000,000
    • Price per foot $ 621.42
    notes
    The property sold for $24 million. McSam also sold a development site at 60 West 36th Street to Magna (see below).
    • Event Sales
    • Address 505-513 West 43rd Street
    • Neighborhood Hell's Kitchen
    • Borough Manhattan
    • Price $ 42,000,000
    • Event Sales
    • Building Name 505-513 West 43rd Street
    • Address 513 West 43rd Street
    • Neighborhood Clinton
    • Borough Manhattan
    • Price $ 42,000,000
    notes
    The 20,000-square-foot lot sold for $42 million. The property is the site of a planned 198-room budget hotel that is not due to be completed until mid-2009.
    • Event Sales
    • Address 370 Canal Street
    • Neighborhood Tribeca
    • Borough Manhattan
    • Price $ 83,500,000
    notes
    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).
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