New York’s CRE woes could spread nationwide: investors
Investors are betting that trouble in New York City’s commercial real estate market will spread nationwide. Prices for debt...
Hotel Market
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Magna Hospitality emerges as New York’s hotel vulture
A New England private investment firm is quickly becoming the biggest vulture feasting on New York City’s distressed hotels....
Lawsuit accuses Marriott of misappropriating funds at East Side hotel
UPDATED, Oct. 14 2020, 3:30 p.m.: Marriott Hotels was sued by a Manhattan landlord for the alleged misappropriation of $12...
$60M mezz loan on Ian Schrager’s Public Hotel is for sale
Korean lender Shinhan Investment wants to sell its $60 million mezzanine loan on the Public Hotel on the Lower...
Operator of Martinique Hotel in Manhattan files for bankruptcy
UPDATED, Sept. 23, 4:45 p.m.: The operator of the Martinique hotel in Manhattan has filed for Chapter 11 bankruptcy...
Courtyard by Marriott in Herald Square to close permanently
The wave of closures hitting New York City hotels has claimed another victim: Herald Square’s Courtyard by Marriott. The...
Royalton, Garment District hotels sell at discounts
Some investors are seizing on the opportunity to snatch up hotels at significant discounts. Ashford Hospitality Trust Inc. has...
Hilton Times Square to close permanently
The Hilton hotel in Times Square is closing its doors permanently. The 478-room hotel at 234 West 42nd Street disclosed its plans to permanently shutter in a filing with the New York State Department...
Cindat looks to sell stake in Manhattan hotel portfolio at discount
A Chinese private equity firm is looking to sell a stake in its large Manhattan hospitality portfolio at a...
Joe Sitt’s Thor faces massive foreclosure suit at trophy Chicago property
Joe Sitt’s Thor Equities is facing a $338 million foreclosure suit at the Palmer House Hilton in Chicago, after...