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Harborby Signalry

Northeast · gateway

New York

The deepest hotel capital market in the country. Trophy pricing, ground-lease complexity, and a buyer set that reads like a sovereign-wealth directory. Sunstone’s 2015 Doubletree Guest Suites Times Square $540.0 million / 468 tape is an entity sale of the leasehold interests — not a fee Midtown deed, not Host’s 2022 Sheraton Times Square $373 million convention box, and not Pebblebrook’s Roger $19.0 million boutique. Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape is a named Financial District Hampton — not that Doubletree and not that Sheraton convention box. Hersha’s 2014 Hotel 373 $37.0 million / 70 tape is a named midtown Manhattan boutique — not that Financial District Hampton, not that Doubletree, and not that Sheraton convention box. Hersha’s 2013 Hyatt Union Square $105.0 million / 178 tape is a named Union Square Hyatt — not that Hotel 373 boutique, not that Financial District Hampton, and not that Times Square Doubletree. Hersha’s 2011 Holiday Inn Express Water Street $36.7 million / 112 tape is a named Water Street Holiday Inn Express — not that Financial District Hampton, not that Hotel 373 boutique, and not that Union Square Hyatt. Hersha’s 2010 Holiday Inn Wall Street $34.876 million / 113 tape is a named Wall Street Holiday Inn — not that Water Street Holiday Inn Express, not that Financial District Hampton, and not that Hotel 373 boutique. Hersha’s 2008 Duane Street Hotel $24.75 million / 45 tape is a named Tribeca independent — not that Hotel 373 boutique, not that Financial District Hampton, and not that Wall Street Holiday Inn. Hersha’s 2007 Hampton Inn Seaport $27.6 million / 65 tape is a named Seaport Hampton — not that Duane Street independent, not that Financial District Hampton, and not that Wall Street Holiday Inn. Filing names Hampton Inn Seaport in New York City — Harbor will not invent a Financial District or Pearl Street lock. Pebblebrook’s 2021 Roger $19.0 million tape is a leasehold with about 23 years left — not that Doubletree, not RLJ’s 2021 DoubleTree Metropolitan $169.0 million box, not DiamondRock’s 2021 Lexington Hotel $185.3 million box, and not the Marriott Marquis. Sunstone’s 2021 Renaissance Westchester $18.8 million / 348 tape lives on its own market — that suburban Renaissance is not a Manhattan PPK. Hersha’s 2006 Holiday Inn Express Hauppauge $18.0 million / 133 tape and Hersha’s 2006 Hampton Inn Farmingville $21.5 million / 161 tape live on their own Long Island market — Harbor will not invent a Manhattan lock.

Hotels
25
Graph events
26
Cited prices
17
Desks
12

Hotels

Each house opens a labeled estimate. Defaults are assumptions — not an appraisal.

New York · Upper upscale

Sheraton New York Times Square Hotel

1780 keys · New York · Sheraton

Times Square convention Sheraton. Host sold the 1,780-key house on April 20, 2022 for $373 million (Q1 2022 10-Q; keys and close day from Host IR). Use the $373 million sale price, not the $250 million bridge loan. Buyer unnamed. Not the Marriott Marquis, not Sunstone’s Hilton Times Square assignment, and not Sunstone’s 2015 Doubletree Guest Suites Times Square $540.0 million / 468 leasehold entity sale.

New York · Upscale

The Roger New York

194 keys · New York · The Roger

Manhattan boutique leasehold. Pebblebrook sold the leasehold interest in the 194-key house on June 10, 2021 for $19.0 million (8-K). About 23 years remained on the ground lease. Buyer unnamed. Harbor PPK is a leasehold number — not Host’s 2022 Sheraton Times Square $373 million convention box.

New York · Upper upscale

DoubleTree Hotel Metropolitan New York City

764 keys · New York · DoubleTree

Midtown East DoubleTree. RLJ sold the 764-key house in December 2021 for a gross sales price of $169.0 million (Q4 2021 8-K Exhibit 99.1). Day-of-month unnamed — Harbor uses the first of December. Buyer unnamed. Not Host’s 2022 Sheraton Times Square $373 million convention box, not DiamondRock’s 2021 Lexington Hotel $185.3 million tape, and not Pebblebrook’s 2021 Roger $19.0 million tape.

New York · Upper upscale

The Lexington Hotel New York

725 keys · New York · The Lexington Hotel

Midtown East box. DiamondRock sold the 725-key house on June 30, 2021 for $185.3 million (8-K Exhibit 99.1). Buyer unnamed. Use the $185.3 million sale price — DiamondRock’s projected capital line is DiamondRock’s narrative, not a second hotel price. Not RLJ’s 2021 DoubleTree Metropolitan $169.0 million tape, not Host’s 2022 Sheraton Times Square $373 million convention box, and not Pebblebrook’s 2021 Roger $19.0 million tape.

New York · Upper upscale

Doubletree Guest Suites Times Square

468 keys · New York · DoubleTree

Times Square Doubletree suites. Sunstone sold 100% of the membership interests in the LLC that held the leasehold interests in the 468-key house on December 18, 2015 for a $540.0 million contractual gross sale price (8-K). Buyer unnamed. That is a leasehold entity sale — not a fee Midtown deed. Use the $540.0 million hotel price, not the $520.574 million expected net and not the $175.0 million mortgage payoff. Not Host’s 2022 Sheraton Times Square $373 million convention box, not RLJ’s 2021 DoubleTree Metropolitan $169.0 million tape, and not Pebblebrook’s Roger $19.0 million tape.

New York · Upper midscale

Hampton Inn Financial District

81 keys · New York · Hampton

Manhattan Financial District Hampton. Hersha sold the 81-key house on March 14, 2018 for $32.4 million (IR). Buyer unnamed. Filing names Financial District — Harbor will not invent a Seaport or Pearl Street lock. Not Host’s 2022 Sheraton Times Square $373 million convention box and not Sunstone’s 2015 Doubletree Guest Suites Times Square $540.0 million / 468 tape.

New York · Independent / boutique

Hotel 373

70 keys · New York · Hotel 373

Midtown Manhattan boutique. Hersha sold the 70-key house on April 30, 2014 for $37.0 million (Q1 2014 Exhibit 99.1). The paper names an offshore investment group, not a Harbor party. Filing names midtown Manhattan — Harbor will not invent a Times Square or Financial District lock. Not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape.

New York · Upper upscale

Hyatt Union Square

178 keys · New York · Hyatt

Union Square Hyatt. Hersha bought the 178-key house in April 2013 for $105.0 million total consideration (Q1 2013 Exhibit 99.1). Harbor uses the first of April rather than inventing a closing day. Seller unnamed. Filing names Union Square — Harbor will not invent a Times Square or Financial District lock. Use the $105.0 million named consideration, not the $55.0 million new mortgage. Not Hersha’s 2014 Hotel 373 $37.0 million / 70 tape and not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape.

New York · Upper midscale

Holiday Inn Express Water Street

112 keys · New York · Holiday Inn Express

Water Street Holiday Inn Express. Hersha bought the 112-key house on March 25, 2011 for $36.7 million (May 5, 2011 Exhibit 99.1). Seller unnamed. Filing names Water Street — Harbor will not invent a Seaport or Pearl Street lock. Use the $36.7 million hotel price, not the 10-Q $38.664 million allocation. Not Hersha’s 2010 Holiday Inn Wall Street $34.876 million / 113 tape, not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape, not Hersha’s 2014 Hotel 373 $37.0 million / 70 tape, and not Hersha’s 2013 Hyatt Union Square $105.0 million / 178 tape.

New York · Upper midscale

Holiday Inn Wall Street

113 keys · New York · Holiday Inn

Wall Street Holiday Inn. Hersha bought the 113-key house on May 7, 2010 for $34.876 million (Q2 2010 10-Q). Seller unnamed — an unrelated third party. The 10-Q names Maiden Hotel LLC as the owner entity purchased — not a Harbor party. Filing names Wall Street, New York — Harbor will not invent a Seaport or Financial District lock. Use the $34.876 million membership-interest purchase price, not the $151 closing-cost add-on and not a trade-press $34.8 million / $308,000 per key line. The August 4, 2010 Exhibit 99.1 names May without a hotel price or keys. Not Hersha’s 2011 Holiday Inn Express Water Street $36.7 million / 112 tape and not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape.

New York · Independent / boutique

Duane Street Hotel

45 keys · New York · Duane Street Hotel

Tribeca independent boutique. Hersha bought the 45-key house in January 2008 for $24.75 million (Q4 2007 Exhibit 99.1). Harbor uses the first of January rather than inventing a closing day. Seller unnamed. Filing names Tribeca — Harbor will not invent a Financial District or Seaport lock. Use the $24.75 million hotel price, not the $2.0 million cash line, not the $15.0 million assumed debt, and not the $7.75 million OP-unit line. Later Duane Street $20 million and Blue Moon $30 million lines stay off as contracts without keys. Hilton Garden Inn Tribeca stays off as a development-loan conversion. Not Hersha’s 2014 Hotel 373 $37.0 million / 70 tape, not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape, and not Hersha’s 2013 Hyatt Union Square $105.0 million / 178 tape.

New York · Upper midscale

Hampton Inn Seaport

65 keys · New York · Hampton Inn

Seaport Hampton Inn. Hersha bought the 65-key house on February 1, 2007 for $27.6 million (May 8, 2007 Exhibit 99.1). Seller unnamed. Filing names Hampton Inn Seaport in New York City — Harbor will not invent a Financial District or Pearl Street lock. Use the $27.6 million hotel price, not the $19.25 million debt line and not the supplemental $27.625 million investment column. Do not stitch the February 1, 2007 8-K. The same paper’s January Residence Inn Langhorne, Holiday Inn Express Chester, and Residence Inn Carlisle $34.6 million line stays combined. The same paper’s Chelsea Holiday Inn Express line stays off as a 50% operations interest. Not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape, not Hersha’s 2011 Holiday Inn Express Water Street $36.7 million / 112 tape, and not Hersha’s 2008 Duane Street Hotel $24.75 million / 45 tape.

Desks covering this market

Public coverage lists, not a claimed book. Open a desk for the graph timeline.

Public tape · 1 events

Transactions

Cited prices stay cited. Unknown stays unknown. Linked houses open the estimate worksheet.

Morning blotterCompare a cited single

Public filingFeb 1, 2007

Hampton Inn Seaport — Hersha acquisition

Hampton Inn Seaport · 65 keys · Upper midscale

Consideration

$27.6M

$425k / key

Hersha Exhibit 99.1: $27.6 million for the 65-room Hampton Inn Seaport in New York City. Seaport Hampton — not a Financial District Hampton PPK.

Hersha Hospitality Trust Exhibit 99.1, May 8, 2007 (February 1, 2007 close)

Hersha acquired the 65-room Hampton Inn Seaport in New York City on February 1, 2007 for $27.6 million. Harbor PPK is $27.6 million ÷ 65. The same Exhibit 99.1 names February, the 65 rooms, and that hotel price. Use the $27.6 million hotel price, not the $19.25 million debt line and not the supplemental $27.625 million investment column. Seller unnamed. Filing names Hampton Inn Seaport in New York City — Harbor will not invent a Financial District or Pearl Street lock. Do not stitch the February 1, 2007 8-K, which names a purchase price without keys. Do not stitch a later 10-Q allocation. The same paper’s January Residence Inn Langhorne, Holiday Inn Express Chester, and Residence Inn Carlisle $34.6 million line stays combined. The same paper’s Chelsea Holiday Inn Express line stays off as a 50% operations interest. Holiday Inn Express 29th Street stays off as a remaining-interest buyout. The May 5, 2011 paper’s 32 Pearl Street $28.3 million line names a hotel price without keys. Hampton Inn Manhattan-Chelsea stays off as a remaining-interest contract. The September 12, 2006 8-K’s Residence Inn Tyson’s Corner $20.1 million / 96 tape, Residence Inn Norwood $14.3 million / 96 tape, Holiday Inn Express Hauppauge $18.0 million / 133 tape, Hampton Inn Farmingville $21.5 million / 161 tape, and Courtyard Scranton $8.8 million / 120 tape are separately named singles already on the corpus. The same 8-K’s January 3, 2006 Mt. Laurel, Bethlehem, and Langhorne line stays combined. The same 8-K’s May 1, 2006 North Dartmouth and Franklin line stays combined. Hampton Inn Center City Philadelphia stays off as an 80% preferred-return interest. Hilton Garden Inn JFK Airport February 2006 stays off as a membership-interest buy. Holiday Inn Express Cambridge stays off — the September 12, 2006 8-K names $12.2 million without keys. The June 6 $39.5 million announcement is a contract, not this close. Do not stitch a Hotel Executive or Hotel News Resource item. Holiday Inn Express Camp Springs stays off — the June 26, 2008 8-K names $14.0 million without keys; do not stitch the $61.8 million Harrisburg, JFK, and Camp Springs line. Towne Place Suites Harrisburg stays off until one paper names month, that hotel’s price, and keys together. Sheraton JFK stays off until one paper names month, that hotel’s price, and keys together. Holiday Inn New Cumberland stays off — the October 30, 2008 8-K names the sale without a hotel price or keys. Comfort Inn North Dartmouth stays off — that house was a held-for-sale reclass and later a lender transfer, not a hotel deed tape. Holiday Inn Norwich stays off until one paper names month, that hotel’s price, and keys together — the July 1, 2007 8-K names $16.1 million without keys. Hotel Oceana stays off until a filing names keys with a hotel price. TownePlace Suites Sunnyvale stays off until one paper names a calendar month, a hotel price, and keys together. Parrot Key stays off until one paper names month, a hotel price, and keys together. Holiday Inn Express Chester stays off until a filing names a calendar month, a hotel price, and keys together. Hyatt Place King of Prussia stays off until one paper names month, a hotel price, and keys together. Hersha’s February 2010 Times Square Hampton, Candlewood, and Holiday Inn Express line stays combined. Courtyard South Boston stays off as a mortgage-note purchase of a 50% joint venture. Hilton Garden Inn Glastonbury stays off as a remaining 52% joint-venture interest. Hampton Inn & Suites West Haven and Hilton Garden Inn Tribeca stay off as development-loan conversions. Hersha’s November 2016 Residence Inn Framingham plus Residence Inn Norwood $47.0 million line stays combined. Hersha’s 2021 four-hotel $178.5 million line and August 2022 six-pack $435.9 million stay combined. Not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape, not Hersha’s 2011 Holiday Inn Express Water Street $36.7 million / 112 tape, not Hersha’s 2010 Holiday Inn Wall Street $34.876 million / 113 tape, and not Hersha’s 2008 Duane Street Hotel $24.75 million / 45 tape. Older than the 2025–26 blotter cut.

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