Lotte Hotels & Resorts Acquires Hotel In Manhattan From Archdiocese Of NY For $490M

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.