Deals
Strategic to Buy Manhattan Essex House Hotel for $362.3 Million
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Strategic Hotels & Resorts Inc. agreed to buy the Jumeirah Essex House, an 80-year-old hotel on Manhattan’s Central Park South, for $362.3 million.
Marriott International Inc. will manage the property, which will be rebranded as JW Marriott Essex House New York, Strategic said today in a statement. The seller is Dubai Investment Group LLC, the real estate and asset-management arm of Dubai Group LLC, which is controlled by the emirate’s ruler.