MCR Acquires 811 7th Avenue Hotel In Manhattan For $356M

The Hotel located at 811 7th Avenue in Manhattan was recently sold in a transaction. The property is situated in a zoned area designated as C6-6, C6-6.5, and MiD, allowing for various uses. The sale of the hotel was completed on 03/08/2022, with the buyer being MCR represented by Tyler Morse, and the seller being Host Hotels & Resorts represented by James F. Risoleo. The sale price for this hotel was $356,000,000, equating to a per square foot price of $303 for a total area of 1,171,742 square feet. The building contains a total of 1,780 rooms, resulting in a price per key of $200,000.

Summary of Transaction Details:

• Property Type: Hotel
• Transaction Amount: $356,000,000
• Address: 811 7th Avenue
• Market: Manhattan
• Zoning: C6-6, C6-6.5, MiD
• Buyer: MCR - Tyler Morse
• Seller: Host Hotels & Resorts - James F. Risoleo

This transaction involved two prominent figures in the real estate industry. Tyler Morse, representing MCR, acted as the buyer for the hotel. On the other side, James F. Risoleo, representing Host Hotels & Resorts, served as the seller. The hotel itself spans across a lot size of 60,775 square feet, with lot dimensions measuring 200.83 feet by 305 feet. The sale was completed at a price per square foot of $303 and resulted in a total building square footage of 1,171,742 square feet. The property is classified under tax class 4 and has a floor area ratio (FAR) of 19.28. Additionally, the hotel underwent alterations with permits obtained on 09/07/2021.