Host Hotels & Resorts has purchased 1 Hotel Central Park in New York City from Starwood Capital Group for $233.8M, according to records filed with New York City. It was reported last month that the companies were nearing a deal on the 18-story hotel at 1414 Sixth Ave.
Barry Sternlicht's Starwood opened the hotel in 2015 and the next year looked for buyers who would pay more than $1 million per room, but no sale took place at the time. The deal seems to achieve Starwood’s goal, as the sale of the 229-key hotel pencils out to just over $1M per room, according to Bisnow.
Host also owns the 1,971-room Marriott Marquis in Times Square and 515-room New York Marriott Downtown.
Host Hotels agreed in May to purchase the Turtle Bay Resort in Hawaii from Blackstone for about $680 million. It struck a deal to buy the 1 Hotel Nashville and an adjacent Embassy Suites from a group led by Starwood in April.