June 20, 2017 Comments Off on Condo Developer Pays $118M for Affinia Dumont NYC Hotel Views: 931 Midtown New York, New York News

Condo Developer Pays $118M for Affinia Dumont NYC Hotel

A condominium developer paid $118 million for the Affinia Dumont NYC Hotel.

“We are very excited to announce the sale of the Dumont NYC,” said Jon Bortz, chairman and CEO of the seller, Pebblebrook Hotel Trust, to Real Estate Weekly.

The 252-key hotel, located at 150 E. 34th St., was once part of a portfolio that Pebblebrook owned with its joint venture partner Denihan Hospitality Group. Last year, Pebblebrook assumed full ownership of Dumont NYC and a second, 618-room hotel, Affinia Manhattan NYC, located at 371 Seventh Ave.

Now Pebblebrook is selling the Affinia Dumont to an undisclosed buyer. The Affinia Manhattan NYC sold last December for $217.5 million to a joint venture between Patriarch Equities, Sioni Group and Highgate. The new owners promptly renamed the Affinia Manhattan NYC the Stewart Hotel, following the sale.

Read More at Real Estate Weekly

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