Assignment Overview
RobertDouglas advised a private owner on the sale of the Roger Smith Hotel to Holiday Inn Club Vacations.
Project Overview
Featuring a prominent corner location on prestigious Lexington Avenue and 47th Street, the Roger Smith is poised to benefit from the billions being spent in and around Midtown East, the closure of thousands of directly competitive keys, and the recovery story of one of the most resilient markets in the world. Originally built in 1927, the Hotel features oversized guest rooms, 3,750 SF of meeting and event space and 1,555 SF of retail space.
Deal Highlights
| Client (Borrower): Buyer: Sale Proceeds: Key Count: | Private Owner Holiday Inn Club Vacations $41.0 million 132 |
