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Penn 33rd LLC Acquires Hotel At 325 West 33rd Street For $36.9 Million From Magna Hospitality Group

Property Image
SOLD
$36,900,000

New York

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Hotel120,639 SF
Sold 09/30/2025
the dealdetailscomps
Property Image
SOLD

Penn 33rd LLC Acquires Hotel At 325 West 33rd Street For $36.9 Million From Magna Hospitality Group

325 West 33rd Street

See Similar Deals
Hotel120,639 SF
Sold 09/30/2025
the dealdetailscomps

Summary

NEW YORK
Asset Type:Hotel
Price Per Square Foot:$305
Total Square Footage:120,639 SF
Transaction Type:Sale

The asset involved in the transaction is a hotel located at 325 West 33rd Street in the Penn Plaza market of Manhattan. The sale price for the hotel was $36,900,000, with a total square footage of 120,639, resulting in a price per square foot of $306.

Summary of transaction details:

  • Property Type: Hotel
  • Transaction Amount: $36,900,000
  • Square Footage: 120,639
  • Price Per Square Foot: $306
  • Buyer: Penn 33rd LLC
  • Seller: Robert A. Indeglia Jr - Magna Hospitality Group
  • Market: Penn Plaza, Manhattan
  • Date of Transaction: 09/30/2025

Penn 33rd LLC acquired the ground lease of the hotel from Robert A. Indeglia Jr, who is associated with Magna Hospitality Group. This transaction reflects a significant investment in the Penn Plaza area of Manhattan, highlighting the ongoing interest in hotel properties within this market.

Players

MG
Magna Hospitality Group
SELLER

Details

SOLD
IMAGE: Robert A. Indeglia Jr DATE: 09/30/2025 ADDRESS: 325 West 33rd Street MARKET: Penn Plaza, Manhattan ASSET TYPE: Hotel BUYER: Penn 33rd LLC SELLER: Robert A. Indeglia Jr - Magna Hospitality Group SALE PRICE: $36,900,000 SF: 120,639 ~ PPSF: $306 NOTE: Penn 33rd LLC paid $36.9 million to Magna Hospitality Group for the ground lease of the hotel at 325 West 33rd Street in Manhattan’s Penn Plaza.

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Net Operating Income (NOI)

$1,968,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$131,097.91
Cash-on-Cash Return-1.27%
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