The hotel building located at 501-507 Lexington Avenue in Midtown East, Manhattan was successfully sold for $30.3 million. Spanning a total square footage of 92,501, the property was acquired by Michael J. Thompson of Holiday Inn Club Vacations from Bert Blicher of Timeshare Acquisitions. The price per square foot was $328, showcasing a lucrative investment opportunity in the vibrant market of Midtown East, Manhattan.

Summary of transation details:

• Property Type: Hotel
• Transaction Amount: $30,318,212
• Buyer: Michael J. Thompson - Holiday Inn Club Vacations
• Seller: Bert Blicher - Timeshare Acquisitions
• Address: 501-507 Lexington Avenue
• Market: Midtown East, Manhattan

Operating through the entity 501 Lexington Development Company, LLC, Holiday Inn Club Vacations facilitated the acquisition of approximately 28 percent of the hotel building at 501 Lexington Avenue. This strategic move further solidifies their presence in the Midtown East market and marks a significant transaction within the hospitality sector.