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Magna Hospitality & RockBridge Buys Wyndham Garden Hotel - Times Square $82.5 Million

Hotel Real Estate News NYC

Magna Hospitality and RockBridge Capital Buys Wyndham Garden Hotel - Times Square South and Rebrand the Hotel as DoubleTree by Hilton

$82,500,000.00 That's  $366,666.66 Per Room

The Hotel at 341 West 36th St New York NY 10018

As per City Records 341 WEST 36TH STREET LLC Sold to CM-36 LLC C/O MAGNA HOSPITALITY GROUP, L.C.

http://a836-acris.nyc.gov/Scripts/DocSearch.dll/Detail?Doc_ID=2011112300182001

Earlier this year

RockBridge Capital buys NYC Hampton Inn for $69.5M as per NY Post

According to the New York Post, Columbus, Ohio-based RockBridge Capital has bought the Hampton Inn at 59 W. 35th St. in New York, without brokers, from Magna Hospitality for $69.5 million. The total price comes out to roughly $476,027 per key for the Empire State Building-located 146-room hotel, which The Post says "is in line with other city hotel sales." According to Alan Assaf, investment manager for RockBridge, the companies have a "prior relationship" and Magna will continue to operate the hotel.

About Magna Hospitality

About Rockbridge Capital

RockBridge is an investment firm focused on the hospitality industry. Since 1992, RockBridge has invested approximately $3 billion through our RockBridge Hospitality Funds and First Mortgage Investment Program in over 300 assets. Our philosophy has been and continues to be to partner with strong hotel operating companies and premium brands to create value for our operating partners and our investors.