Benderson Development pays $89M to Jed Manocherian for Times Square hotel

Benderson Development through the entity 9395 Ch, LLC paid Jed Manocherian $89 million for the Hampton Inn Manhattan/Times Square Central at 220 West 41st Street in Times Square. The deal closed on October 2, 2020, and was recorded on October 13, 2020. The transaction consists of 1 parcel, including the tax class luxury type hotel built after 1960 (H2). The property is 141,335 square feet. The parcel(s) have total development potential of 141,335 square feet.
The average sale price per square foot is $629.

The buyer was an affiliate of Benderson Development, a privately held real estate company based in Florida.  The last time the property sold was August 20, 2015, when Manocherian bought it for $80,9 million.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 300 hotel units on June 25, 2015.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link