Hawkins Way, Vardë Acquire 655-Room Hotel in Midtown Manhattan

by Taylor Williams

NEW YORK CITY — A joint venture between Hawkins Way Capital and Vardë Partners has acquired a 655-room hotel located at 525 Lexington Ave. in Manhattan’s Midtown East neighborhood. The 35-story, 406,261-square-foot building, which was shuttered at the time of sale, was originally constructed in 1922 and most recently housed a Marriott-branded operation. Jeffrey Davis, Gilda Perez-Alvarado, Stephany Chen and Bob Knakal of JLL represented the seller, global investment firm Deka Immobilien, in the transaction.

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