{"id":62703,"date":"2020-09-09T01:34:00","date_gmt":"2020-09-08T22:34:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/fabled-royalton-hotel-sells-for-45-million\/"},"modified":"2020-09-09T01:34:00","modified_gmt":"2020-09-08T22:34:00","slug":"fabled-royalton-hotel-sells-for-45-million","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/fabled-royalton-hotel-sells-for-45-million\/","title":{"rendered":"#Fabled Royalton Hotel sells for $45 million"},"content":{"rendered":"

“#Fabled Royalton Hotel sells for $45 million<\/strong>”<\/p>\n

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September 8, 2020 |<\/span> 6:34pm <\/p>\n

\n High-flying MCR Development, which launched the retro-styled TWA Hotel at John F. Kennedy Airport, has added another trophy to its lodging portfolio: The fabled Royalton Hotel at 44 W. 44th St., which it snatched for $44.8 million \u2014 a 15 percent discount from what it last fetched in 2017.<\/p>\n

MCR is the sixth-largest hotel owner in the country. Its other New York properties include the giant New Yorker Hotel on Eighth Avenue and the High Line Hotel downtown.<\/p>\n

The Royalton opened in 1898 as a fancy residential hotel before it turned into a single-room-occupancy backwater in the mid-20th Century. It enjoyed its most glamorous years after Studio 54 co-founder Ian Schrager\u2019s company bought it for $17 million and re-launched it in 1988 with a sexy, moody design by Philippe Starck and cutting-edge bars and restaurants that inspired many other inns around town.<\/p>\n

The 168-room hotel changed hands several times after that, most recently for $53 million to Rockport Group and Highgate Holdings in 2017. The new owners replaced Starck\u2019s design with a generic, suburban look.<\/p>\n

The Royalton is currently closed but will reopen on Sept. 30, according to its website.
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\nThe low purchase price reflects weakness in the city\u2019s hotel market, which was battered by over-supply even before the pandemic struck last winter. But an industry source said the Royalton purchase wasn\u2019t as cheap as it seemed. \u201cIt needs tons and tons of work.\u201d<\/p>\n

JLL brokered the sale but no other details were immedia<\/a>tely available. MCR Development CEO Tyler Morse could not be reached.\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Fabled Royalton Hotel sells for $45 million” September 8, 2020 | 6:34pm High-flying MCR Development, which launched the retro-styled TWA Hotel at John F. Kennedy Airport, has added another trophy to its lodging portfolio: The fabled Royalton Hotel at 44 W. 44th St., which it snatched for $44.8 million \u2014 a 15 percent discount from…<\/p>\n","protected":false},"author":1,"featured_media":62704,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[66217],"class_list":["post-62703","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-fabled-royalton-hotel-sells-for-45-million"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/62703","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=62703"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/62703\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/62704"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=62703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=62703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=62703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}