DiamondRock Hospitality Sells Lexington Hotel in Midtown Manhattan for $185.3M
NEW YORK CITY DiamondRock Hospitality Co. (NYSE: DRH), a Maryland-based REIT, has sold the 725-room Lexington Hotel in Midtown Manhattan for $185.3 million, or roughly $256,000 per room. The sales price represents a cap rate of 5.4 percent based on the hotels 2019 net operating income. The Lexington Hotel features multiple meeting and event [] The post DiamondRock Hospitality Sells Lexington Hotel in Midtown Manhattan for $185.3M appeared first on REBusinessOnline .
DiamondRock Hospitality Sells Lexington Hotel in Midtown Manhattan for $185.3M
NEW YORK CITY DiamondRock Hospitality Co. (NYSE: DRH), a Maryland-based REIT, has sold the 725-room Lexington Hotel in Midtown Manhattan for $185.3 million, or roughly $256,000 per room. The sales price represents a cap rate of 5.4 percent based on the hotels 2019 net operating income. The Lexington Hotel features multiple meeting and event [] The post DiamondRock Hospitality Sells Lexington Hotel in Midtown Manhattan for $185.3M appeared first on REBusinessOnline .