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AIG is trying to sell this Midtown hotel for more than $200M
The company wants to offload Embassy Suites on West 37th Street
AIG Global Real Estate is trying to offload a Manhattan hotel for more than $200 million.
The company has enlisted Eastdil Secured to find buyers for the Embassy Suites by Hilton New York Midtown Manhattan, according to Bloomberg. The 310-room hotel is on West 37th Street.
The 39-story hotel opened in January and has been fully operational since July. It’s the only location in New York
AIG owns the majority stake of the hotel, which was co-developed by Hidrock Properties and the Buccini/Pollin Group, the report said.
Both AIG and Eastdil declined Bloomberg’s requests for comment.
A deal would add to the list of several other prominent sales this year. The Plaza Hotel sold for $600 million to Katara Hospitality, a hotel-centric subsidiary of Qatar’s sovereign wealth fund. This month, Host Hotel & Resorts sold the retail and commercial condo portion of the New York Marriott Marquis to Vornado Realty Trust for $442 million. Host Hotels also sold two W hotels in Manhattan for a combined $361 million. [Bloomberg] — Meenal Vamburkar