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Republic Investment Company Acquires Hotel Ground Lease In Grand Central For $209/ft

118 East 40th Street
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This Hotel property located in NY was leased almost 2 years ago.

The ground lease for a hotel property located at 118 East 40th Street in the Grand Central market has been transacted. The buyer in this deal is Republic Investment Company, while the seller is Meadow Partners. The lease terms for this transaction are 99 years, and the asking rent was $209 per square foot. The total square footage of the property is 74,640 square feet.

Summary of transaction details

  • Property Type: Hotel
  • Transaction Amount: N/A
  • Market: Grand Central
  • Address: 118 East 40th Street

This ground lease deal was facilitated by Republic Investment Company as the buyer's representative. Unfortunately, no additional information regarding any brokers or representatives for the seller or the lease transaction is available.

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  • Location
    118 East 40th Street, New York City, New York 10016, United States118 East 40th Street, New York City, New York 10016, United States
  • Area
    74,640 SF74,640 SF
  • Asset Type
    HotelHotel

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Deal Summary

GROUND LEASE IMAGE: Jeff Kaplan DATE: 05/06/2022 ADDRESS: 118 East 40th Street MARKET: Grand Central ASSET TYPE: Hotel BUYER: Republic Investment Company (@JoinRepublic) SELLER: Meadow Partners ASKING RENT: $209/ft. ~ SF: 74,640 LEASE TERMS: 99-year

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