JLL arranges $310 million sale of St. Regis New York
The St. Regis New York is the quintessential, global trophy asset and is positioned along Fifth Avenue in Manhattan.
NEW YORK, Nov. 4, 2019 – JLL Hotels & Hospitality announced that the firm has advised on the sale of the St. Regis New York, on behalf of Marriott International. Qatar Investment Authority (“QIA”) purchased the 238-key property for $310 million, subject to a long-term management agreement.
JLL Americas Hotels CEO and Global Hotel Desk head Gilda Perez-Alvarado advised on the transaction.
“The St. Regis New York is the quintessential, global trophy asset. Its rich history and positioning as the birthplace of the St Regis hotel brand make it truly irreplaceable, and a strategic investment,” said Perez-Alvarado.
The St. Regis New York is located in Manhattan’s Midtown East submarket, overlooking Fifth Avenue. The property holds Forbes five-star and AAA five-diamond ratings. Amenities include The Astor Court restaurant and King Cole Bar, and nearly 14,000 square feet of meeting and event space.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of nearly 92,000 as of June 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com