DiamondRock Hospitality Company has sold its leasehold interest in the 189-key Courtyard by Marriott New York Manhattan/Fifth Avenue to an undisclosed buyer for $33.0 million. The sale price represents a 6.3x multiple on 2025 adjusted EBITDA and a 13.3% cap rate on 2025 hotel NOI. Given $12 million of upcoming capital expenditures, a contractual increase ...
The post DiamondRock Hospitality Offloads Midtown Courtyard by Marriott appeared first on Connect CRE .
This content is for informational purposes only and does not constitute investment advice. Always consult with qualified professionals before making investment decisions.
Related Reading
trending_up
market update1m
Lee & Associates of IL Negotiates 41K-SF Industrial Lease in Elgin
trending_up
market update1m
Lee & Associates of Illinois Negotiates 41K-SF Industrial Lease in Elgin
trending_up
market update1m
DiamondRock Hospitality Offloads Midtown Courtyard by Marriott
Get Daily Insights Like This
Join thousands of CRE investors receiving market updates, deal analysis, and tenant intelligence daily.
Subscribe Free