The City University Of New York Acquires Hotel In Midtown East For $125.6M From Hawkins Way Capital
569 Lexington Avenue
$125,600,000
Building Size
—
Asset Type
Hotel
Closing
Aug 15, 2025
About this deal
AI
The asset involved in the transaction is a hotel located at 569 Lexington Avenue, situated in the Midtown East area of Manhattan. The property features six hotel condo floors with a total of 235 rooms. The transaction was completed for a price of $125,600,000 with a per room price calculated at approximately $534,468.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $125,600,000
- Buyer: The City University of New York
- Seller: Ross Walker & Karan Suri - Hawkins Way Capital
- Keys: 235
- PPK: $534,468
- Date of Sale: 08/15/2025
- Address: 569 Lexington Avenue
- Market: Midtown East, Manhattan
The deal was facilitated through 569 Lexington Leasehold LLC, which represents The City University of New York in this transaction. Ross Walker and Karan Suri represented the seller, Hawkins Way Capital, during the negotiation and completion of this sale.
On the Map
$125,600,000
Hotel
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New York Hotel Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93