Nov
26
Blackstone Sells the London Hotel
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Blackstone Group has sold the London Hotel in Midtown to a sovereign wealth fund.
NEW YORK CITY—Blackstone Group has sold the London Hotel in Midtown to a sovereign wealth fund for $382 million, or $678,000 per room, according to the New York Post.
The buyer was the Abu Dhabi Investment Authority, which also owns the Hyatt Times Square and the Marriott Edition on Madison Square Park. The new owner is expected to retain the current management team…
