Sonesta International Hotels Acquires Denihan Hospitality Group Hotel Portfolio For $324.2M

The property involved in the transaction is a hotel located at 155 East 50th Street, 303 Lexington Avenue, 215 East 64th Street, and 557 Lexington Avenue in Midtown East, Murray Hill, and Lenox Hill. The hotel has a total square footage of 587,259 and was sold for a price of $324,200,000, resulting in a price per square foot of $552.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $324,200,000
• Buyer: Sonesta International Hotels
• Seller: Denihan Hospitality Group
• Square Footage: 587,259
• Price per Square Foot: $552

Sonesta International Hotels is the buyer of the property, while Denihan Hospitality Group is the seller. The transaction took place on 05/06/2022. The property is situated in a prime location, spanning across three neighborhoods: Midtown East, Murray Hill, and Lenox Hill.