Paramount Hotel Sold to Aby Rosen

Friday, 10 June 2011 18:06

Hotel Real Estate News NYC

Aby Rosen, the flashy developer who owns iconic New York properties such as the Seagram Building and Lever House, is adding the Paramount Hotel to his collection, betting the 1980s hot spot can regain its allure.

Mr. Rosen's firm has agreed to pay about $275 million for the 597-room hotel, according to people familiar with the matter. The property was sold by Walton Street Capital and Highgate Holdings.

New York City tourism is booming, attracting a record 48.7 million visitors last year. But the Paramount—situated on 46th Street between Broadway and Eighth Avenue—faces fierce competition from large hotels around Times ..

Source: WSJ

From our Articles:

Breaking News - For Sale - Paramount Hotel Midtown Landmarked Hotel

 

Hotels Sold New York


The Paramount Hotel 235 West 46th Street NY 10036 One of the Biggest Boutique Hotel in the lodging industry

Paramount Hotel Midtown Landmarked Hotel For Sale - 597 Rooms

http://www.nycparamount.com

The 597-room landmarked property on West 46th Street is owned by Walton Street Capital and Highgate Holdings. It was one of the first hotels opened by former nightclub impresarios Ian Schrager and Steve Rubell in the 1980s.

Source: http://www.crainsnewyork.com/article/20110211/REAL_ESTATE/110219970#

 

Paramount Hotel

 

Paramount Hotel New York

If you are looking for an ideal holiday destination in New York City, the Paramount Hotel is a perfect place for you to reside and explore the surrounding areas.

Location
Located 12 blocks away from Penn Station, the modern and trendy Paramount Hotel New York is in the heart of the Theater District and Restaurant Row.

Rooms
The hotel's guestrooms are spacious and well decorated, with each room featuring unique lighting and design.
buyers hospitality industry hotel brand Hotel For Sale hotel investors Hotel Reit hotel sellers hotels for sale investing in New York City hotels investing in NYC hotels investors lodging industry Manhattan Hotels New York City New York City development New York City hotel New York City hotel industry New York City hotel market New York City hotels New York City real estate NYC development NYC developments NYC hotel NYC hotel industry NYC Hotel Market NYC hotel real estate NYC hotels NYC Real Estate sellers U.S. hotels