Highgate Acquires Manhattan's Row Hotel Stake From David Werner For $350M

The Manhattan hotel located at 700 8th Avenue has been sold in a recent transaction for $350,000,000. The property, known as Row Hotel, features 1,331 keys with a price per key of $262,960.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $350,000,000
• Address: 700 8th Avenue
• Market: Manhattan
• Buyer: Arash Azarbarzin - Highgate
• Seller: David Werner
• Brokers: Jeff Davis & Scott Ellman - Eastdil Secured

Highgate, led by Arash Azarbarzin, acquired David Werner's stake in the Row Hotel, finalizing a deal that resolved a complex ownership structure, which included a ground lease and recent financial challenges.