Starwood Capital Group is nearing a deal to sell the 1 Hotel Central Park in New York City to Bethesda, Md.-based Host Hotels & Resorts, according to a Bloomberg report. The 230-key hotel was opened in 2015 as part of Barry Sternlicht’s 1 Hotel brand.
According to Bloomberg, Starwood sought more than $1 million per key for a proposed sale in 2016 that did not go through.
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.