Emmut Properties Acquires 45 West 81st Street Hotel On Upper West Side For $80M

Located in the Upper West Side, the property at 45 West 81st Street has recently changed ownership. The transaction, which took place on December 29, 2021, involved the sale of a hotel asset. The property spans approximately 133,202 square feet and was purchased for a price of $80,000,000, equating to a price per square foot of $600. The deal included 215 keys, with an average price per key of $372,093.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $80,000,000
• Address: 45 West 81st Street
• Market: Upper West Side

The buyer in this transaction was Emmut Properties, represented by John Young. On the other side, the seller was Harry Krakowski. The deal showcases the involvement of key individuals in bringing about the successful sale of the hotel property.