Trending
![KeyBank sued over derailed $122M deal for Skims-leased Hollywood offices](https://static.therealdeal.com/wp-content/uploads/2024/07/Kingsbarn-sues-over-derailed-122M-deal-for-Skims-leased-Hollywood-offices_Main-150x94.jpg)
![“Not even distressed” rent-stabilized property sells for peanuts](https://static.therealdeal.com/wp-content/uploads/2024/07/ft_NY_Inwood-Rent-Stabilized-Sale-1-150x106.png)
![Fifth Avenue office tower owned by Mexican banking scion heads to special servicing](https://static.therealdeal.com/wp-content/uploads/2024/07/Fifth-Avenue-office-tower-owned-by-Mexican-banking-scion-heads-to-special-servicing-f-150x106.jpg)
![Tatiana Pino now owns Century Homebuilders after Sergio Pino’s death, her attorney says](https://static.therealdeal.com/wp-content/uploads/2024/07/ft_MIA_Tatiana-Pino-Century-Builders-Group-150x106.png)
Abu Dhabi to buy New York Edition hotel
Emirate's sovereign fund also closed on Miami Beach Edition today
![From left: 5 Madison Avenue, Ian Schrager (credit: STUDIO SCRIVO), Edition hotel in Miami Beach and ADIA's Sheikh Khalifa](https://static.therealdeal.com/wp-content/uploads/2015/02/edition2.jpg)
The Abu Dhabi Investment Authority, the sovereign wealth fund of the oil-rich emirate, is buying the upcoming Edition hotel at Madison Square Park, seller Marriott International announced today.
Marriott and hotelier Ian Schrager launched the Edition brand in 2008. The property, located at 5 Madison Avenue, is expected to wrap up construction by the end of the first quarter. An Edition in Times Square is also in the cards for 2017.
The Abu Dhabi Investment Authority, which bought the London Edition hotel last year, closed today on the purchase of the Miami Beach Edition in South Florida for $230 million. The New York deal is slated to close in the first quarter of 2015 at a yet-undisclosed price.
Over the next three years, Marriott also plans to open Editions in China, Thailand, India, the United Arab Emirates and Los Angeles.