New York REIT to sell the Viceroy New York

vice

New York REIT is now selling its leasehold interest in the Viceroy New York hotel.

The news comes amid reports that competitor SL Green Realty is nearly finished with a deal to acquire New York REIT and its portfolio of 23 properties. The details of that deal have yet to be disclosed, but New York REIT acquired the Viceroy New York two years ago for $148.5 million, or $618,000 a key.

The 29-story, 240-room hotel was built in 2013, and was the first ever hotel acquisition made by New York REIT, which at the time was known as New York Recovery REIT.

Suggested Articles

Thomas C. Morey will retain his role as general counsel on an interim basis until his successor is appointed.

This week has been about the economy and budget sector, the planet and whether the Reuben Brothers go clubbing a lot.

The budget hotel sector has seen its focus expand to look not only at price, but at design and concept, as guests have become more demanding.