REBusinessOnline

STARWOOD SELLS TWO MANHATTAN W HOTELS FOR $78 MILLION

NEW YORK CITY — Starwood Hotels & Resorts Worldwide has sold two of its W Hotels properties for a total of $78 million. The properties include W New York – The Court, a 198-room hotel located at 130 E. 39th St. in Manhattan, and W New York – The Tuscany, a 122-room hotel located nearby at 120 E. 39th St. Both hotels debuted in 1999 and were some of Starwood's first properties to fly the W flag.

The buyer in the transaction is St. Giles Hotels LLC. The company plans to operate the two hotels and has already re-flagged them as the St. Giles Hotel – The Court New York and the St. Giles Hotel – The Tuscany New York.

Starwood maintains four W Hotels in the New York metropolitan area, including Manhattan locations at Lexington Avenue, Times Square and Union Square as well as a hotel in Hoboken, N.J. The grand opening is expected this summer for the W New York – Downtown, a 217-room hotel located at 123 Washington St.

— Coleman Wood

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter
Conferences


Webinars on Demand


Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties