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NEW YORK CITY — Hersha Hospitality Trust, an owner of upscale hotels in urban gateway markets, has closed on the sale of Hotel 373 in Midtown Manhattan. The hotel sold for $37 million or approximately $529,000 per key. The sales price valued the hotel at $1,680 per square foot and represented an economic capitalization rate of 5.2 percent based on the hotel’s net operating income for the year ending in December 2013. New York City-based Solid Rock Advisors East represented Hersha in the previously announced transaction.