Rock Center hotel sells for $120M

Real estate investment company Rockwood Capital purchased Club Quarters’ 28-floor Rockefeller Center Hotel at 25 West 51st Street several weeks ago for $120.3 million. The acquisition “closes the circle” on the firm’s recent buys of several Club Quarters properties in Manhattan in a little under two years, according to a Rockwood associate who worked on the deal. “We already purchased another Club Quarters in Midtown and one in the Financial District, as well as one in Washington, D.C.,” said Otto Rincon, a financial associate with Rockwood, which has offices in San Francisco and Connecticut. “We just really like their business model.” more By Gabby Warshawer