The Abu Dhabi Investment Authority closed on the purchase of the New York Edition Hotel at 5 Madison Avenue, according to property records filed Tuesday.
The 273-room hotel is the third Edition hotel buy for the sovereign wealth fund. It already owns the London Edition and recently paid $230 million for the Miami Beach Edition Hotel.
Marriott International, which created the Edition hotel in partnership with Ian Schrager, acquired the landmarked clock tower for $165 million in 2011. –Kyna Doles