Blackstone’s BRE Hotels unit has bought the 292-key Kimpton Hotel Eventi at 835 Ave. of the Americas from DLJ Real Estate Capital Partners for $175 million, according to published reports. The deal occurs as demand for New York hotel rooms has rebounded from the pandemic-era trough.
“This transaction reflects our longstanding conviction in New York City and growth in travel,” said Michelle Gelshteyn, managing director at Blackstone. “Hotel demand in New York is nearing pre-COVID levels, while no new hotel construction permits have been filed in the past three years, creating a compelling backdrop for fundamentals.”
Kimpton Hotel Eventi opened in February 2010, marking the fourth hotel from the brand to open in New York. Construction of the 52-story building took four years to complete and comprises both hotel bedrooms and facilities and housing. It’s set to be joined by a third Kimpton-branded property in Manhattan later this year.
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