Hotels only · No pay-to-rank · Advice first; verified when attested
Public tape · 248 of 282 · 2014
Hersha sold the 70-room Hotel 373 in midtown Manhattan on April 30, 2014 for $37.0 million. Harbor PPK is $37.0 million ÷ 70. Hersha rounded the same math to $529,000 per key. The same Exhibit 99.1 names the completed sale, the 70 rooms, and that hotel price. The paper names an offshore investment group, not a Harbor party — Harbor will not invent a desk. Filing names midtown Manhattan — Harbor will not invent a Times Square or Financial District lock. Hersha’s 5.2% economic capitalization rate and 17.3x Hotel EBITDA lines are Hersha’s narrative, not a second hotel price. 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 November 2016 Residence Inn Framingham plus Residence Inn Norwood $47.0 million line stays combined. Hersha’s January 2017 Courtyard Alexandria plus Residence Inn Greenbelt $62.0 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 and not Hersha’s 2016 Hawthorn Suites Franklin $8.9 million / 100 tape. Older than the 2025–26 blotter cut.
$37.0M
Cited consideration · 70 keys · $529k / key
Hersha Exhibit 99.1: $37.0 million for the 70-room Hotel 373. Midtown Manhattan boutique — not a Financial District Hampton PPK.
Hersha Hospitality Trust Exhibit 99.1, May 1, 2014 (April 30, 2014 close)
Historical cited · 2014 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
Deal FrameLiving packetLabeled estimateCompare this tape2014 cited corpus2014 cited filings
Source
Hersha Hospitality Trust Exhibit 99.1, May 1, 2014 (April 30, 2014 close)
https://www.sec.gov/Archives/edgar/data/1063344/000106334414000020/ht-20140501ex991a2cc8a.htmEstimate ↔ tape
Cited consideration on the left. Harbor’s labeled defaults on the right. A gap is a question, not a bid. Portfolio tapes and seller paper stay footnoted. Not an appraisal.
$528,571 / key · 70 keys
$380,713 / key · Harbor defaults
New York · worksheet vs tape PPK
Hersha Exhibit 99.1: $37.0 million for the 70-room Hotel 373. Midtown Manhattan boutique — not a Financial District Hampton PPK.
Hersha Hospitality Trust Exhibit 99.1, May 1, 2014 (April 30, 2014 close)
Historical cited · 2014 corpus. Public filing or issuer IR. Combined PSAs stay combined. Harbor will not invent a price.
The house
Worksheet, not an appraisal. Shock cap ±50 bps and ADR ±10% before you treat any number as a bid.
New York · Independent / boutique
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.
Same house or same market · 5
Same hotel first, then the same market and segment. Structure footnotes stay on the tape. This is not a paid comps service.
PUBLIC Hotel · 367 keys · Independent / boutique
Consideration
Not disclosed
Ian Schrager house. Capital commentary exists. No filing-grade rooms-only price in this corpus.
Ace Hotel New York · 260 keys · Independent / boutique
Consideration
Not disclosed
Trade press (The Real Deal and peers)
Lifestyle flagship has seen capital events. Consideration not consistently disclosed. Listed so the house has a transaction node without a fabricated price.
Hotel Chelsea · 155 keys · Independent / boutique
Consideration
Not disclosed
New York Times / trade coverage of Chelsea redevelopment
Ownership and capital stack changed during the long redevelopment. Published figures conflict across years (2011 sale vs later recap). Harbor will not pick a confidential or disputed number and present it as fact.
The Standard, High Line · 338 keys · Independent / boutique
Consideration
Not disclosed
Financial press coverage of Standard Hotels capital events
Stake and platform sales around André Balazs / Standard Hotels were reported. Harbor does not invent a rooms-only price for the High Line house.
Duane Street Hotel · 45 keys · Independent / boutique
Consideration
$24.8M
$550k / key
Hersha Exhibit 99.1: $24.75 million for the 45-room Duane Street Hotel. Tribeca independent — not a Financial District Hampton PPK and not a midtown boutique PPK.
Hersha Hospitality Trust Exhibit 99.1, February 27, 2008 (January 2008 close)
Hersha acquired the 45-room Duane Street Hotel in the Tribeca section of New York City in January 2008 for $24.75 million. Harbor uses the first of January rather than inventing a closing day. Harbor PPK is $24.75 million ÷ 45. The same Exhibit 99.1 names January, the 45 rooms, and that hotel price. 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. Seller unnamed. Filing names Tribeca — Harbor will not invent a Financial District or Seaport lock. Do not stitch a later 10-Q allocation. The same paper’s Nu Hotel line is a development-project purchase, not an operating-hotel close. The same paper’s November 2007 Fairfield Inn Mt. Laurel plus Hampton Inn Linden line stays combined. 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. 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. 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. 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. Hersha’s 2021 four-hotel $178.5 million line and August 2022 six-pack $435.9 million stay combined. Not Hersha’s 2014 Hotel 373 $37.0 million / 70 tape, not Hersha’s 2018 Hampton Inn Financial District $32.4 million / 81 tape, not Hersha’s 2013 Hyatt Union Square $105.0 million / 178 tape, and not Hersha’s 2010 Holiday Inn Wall Street $34.876 million / 113 tape. Older than the 2025–26 blotter cut.