The Viceroy Hotel is selling at a massive loss

New York REIT finally found a buyer for the Viceroy Hotel – at a sliver of the price it acquired the five-star Billionaires’ Row property for in 2013. Arden Group entered contract to acquire the 29-story, 240-key hotel at 120 West 57th Street for $41 million. When the deal closes in the third quarter, New York REIT will have liquidated its entire portfolio, except for a 50.1 percent stake in One Worldwide Plaza. Ark Partners […]Home Page,Popular,Billionaires Row,Commercial Real Estate,New York REIT