RCA in the commercial property press:


Manhattan's Newly-Renovated Algonquin Hotel Trades Hands


Monday, June 06, 2011
Source: Globe St


Globe St reports: It’s official. Cornerstone Real Estate Advisors of Hartford, CT has purchased the posh, 174-room Algonquin Hotel in Midtown Manhattan. HEI Hotels & Reports announced the long-rumored sale without disclosing the sale price, but purchased the hotel in 2005 from Miller Global Properties for $64 million, according to Real Capital Analytics (RCA).

In covering the closed deal, GlobeSt.com cited data aggregated by RCA to state that, “The sale adds to an ever-growing volume of hotel transactions in New York, where volume for Q1 2011 hit $643 million.”


View the full article on Globe St: Manhattan's Newly-Renovated Algonquin Hotel Trades Hands


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Posted by: Nina Turner

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