Lotte Hotels & Resorts Acquires Hotel In Manhattan From Archdiocese Of NY For $490M
SOLD
$490,000,000
New York
See Similar DealsHotel592,000 SF
Sold 12/12/2025
SOLD
Lotte Hotels & Resorts Acquires Hotel In Manhattan From Archdiocese Of NY For $490M
455 Madison Avenue
See Similar DealsHotel592,000 SF
Sold 12/12/2025
Summary
NEW YORK
Asset Type:Hotel
Price Per Square Foot:$827
Total Square Footage:592,000 SF
Transaction Type:Sale
The asset involved in this transaction is a hotel located at 455 Madison Avenue in Manhattan. The property is currently under contract with a sale price of $490,000,000. The deal reflects the transfer of land ownership from the Archdiocese of New York to Lotte Hotels & Resorts, which is the lessee under a ground lease.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $490,000,000
- Buyer: Lotte Hotels & Resorts
- Seller: Archdiocese of NY
- Seller's Representative: Doug Middleton - CBRE
- Date of Sale: 12/12/2025
Key individuals involved in this transaction include Jeong Ho-seok, Pope Leo XIV, and Cardinal Dolan, who are associated with the transaction in varying capacities. Doug Middleton from CBRE represents the Archdiocese of New York in this sale, facilitating the agreement between the buyer and seller.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$26,133,333.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,740,866.51
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,322,849.99
Annual Debt Service$27,874,199.84
Is there something missing? Send suggestions