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Blackstone Said to Seek $500 Million for NYC London Hotel

Nov. 1 (Bloomberg) -- Blackstone Group LP hired Eastdil Secured LLC to sell the leasehold on the London NYC hotel in midtown Manhattan, two people with knowledge of the matter said.

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.

To contact the reporter on this story: Hui-yong Yu in Seattle at hyu@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net

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