American Hospitality Corp Leases Hotel At 44 West 44th Street In Midtown Manhattan
LEASED
$44
New York
See Similar DealsHotel103,000 SF
Leased 12/01/2023
LEASED
American Hospitality Corp Leases Hotel At 44 West 44th Street In Midtown Manhattan
44 West 44th Street
See Similar DealsHotel103,000 SF
Leased 12/01/2023
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$44
Total Square Footage:103,000 SF
Transaction Type:Lease
The asset involved in the transaction is a hotel located at 44 West 44th Street in Midtown Manhattan. The property spans a total of 103,000 square feet. The lease agreement was between the landlord, MCR Hotels, and the tenant, American Hospitality Corp. The deal was facilitated by brokers Dan Shapiro and David Warren from KSR. The asking rent for the property was $44 per square foot. The total aggregate rent for the lease exceeds $85,000,000.
Summary of transaction details
- Property Type: Hotel
- Transaction Amount: $85,000,000
- Address: 44 West 44th Street
- Market: Midtown Manhattan
- Landlord: MCR Hotels
- Tenant: American Hospitality Corp
- Broker: Dan Shapiro & David Warren - KSR
- Asking Rent: $44/ft
- Square Footage: 103,000
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Deal Type
NNN (Triple Net)
Effective Rent (Annual)
$5,195,430.10
Total Lease Value
$51,954,301.04
Net Landlord Cash Flow$5,195,430.10
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