Blackstone said to seek $500 million for NYC London Hotel
Blackstone is seeking $500 million for the leasehold, which has 123 years remaining, according to the people, who asked not to be named because the details are private.
The private-equity firm bought the leasehold on the 54-story luxury?hotel, formerly known as the Rihga Royal, for $193 million in 2005 and renovated the property, adding a restaurant and cafe by celebrity chef?Gordon Ramsay. The hotel, at 151 W. 54th St. between Sixth and Seventh avenues, offers views of?Central Park.
A deal would include a carriage house on 55th Street that?s connected to the north side of the hotel, the people said.
Peter Rose, a spokesman for New York-based Blackstone, declined to comment on the planned sale, which was reported yesterday by the Real Deal. Roy March, chief executive officer of Eastdil, didn?t immediately respond to an e-mail.
Blackstone last month sold the London West Hollywood hotel for $195 million to Northwood Investors LLC, a private-equity firm started by John Kukral, Blackstone?s head of real estate until the end of 2005.