Qatar Investment Authority pays $310M to Marriott International for St. Regis Hotel in Plaza District

UPDATED, Nov. 25, 1:52 a.m.: Qatar Investment Authority through the entity QIA SR NY Hotel LLC paid Marriott International $310 million through two separate transactions to purchase the St. Regis New York hotel in the Plaza District. In the first, QIA paid Marriott’s St. Regis New York Operating LLC $298 million for 2 East 55th Street and in the second paid $12 million for seven condominium units owned under Marriott’s Fifth Avenue Hotel Suites, LLC. The deal closed on October 31, 2019, and was recorded on November 7, 2019. The transaction consists of commercial condominium units (R5).

The last time the property sold was June 15, 2006, for $236,455,870. JLL Hotels & Hospitality were advisors to Marriott on the deal. Marriott will continue to operate the hotel.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 420 hotel units on August 22, 2014.

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

UPDATED: The post was updated to clarify the sale was executed in two transactions.