Hersha Hospitality Trust Sells 81-Key Manhattan Hotel for $32M
NEW YORK CITY — Hersha Hospitality Trust has completed the disposition of its Hampton Inn Financial District hotel in Manhattan for $32.4 million. Virginia-based Shamin Hotels was the buyer. Located at 32 Pearl St. in the heart of the financial district, the 81-key hotel includes a business center, lounge and fitness center and is in close proximity to Wall Street, Battery Park and the 9/11 Memorial Museum. Hersha acquired the property in 2011 for $28 million and spent $4.5 million to convert and expand the 1930’s Art Deco apartment building into a hotel.