Wingate Manhattan Hotel in Garment District Sells for $37M [Updated]
N.Y. Times Square Hotel Group has purchased the 92-room, 17-story Wingate Manhattan hotel from Staten Island-based Ocean King LLC for $37.2 million, according to property records made public today. The hotel is at 233-235 West 35th Street between Seventh and Eighth Avenues.
Wingate Manhattan features a gym, business center, restaurant called Asura Asian Bistro, WiFi and dry cleaning in addition to other services, according to the hotel’s website. The average nightly room rate starts in the high $200s on weekdays, the website indicates.
N.Y. Times Square Hotel Group’s purchase closed on Nov. 5. Lisa and Simon Lou of Ocean King LLC bought the site in 2003 for $2.6 million, city records indicate. The owners then broke ground on the hotel there in 2005, according to a press release from that time.
The Manhattan-based N.Y. Times Square Hotel Group is also developing a 31-story hotel at 120 Water Street, according to the city’s Department of Buildings.
Mr. Lou declined to comment and hung up abruptly.
Update: A previous version of this article identified Simon Lou as a representative of N.Y. Times Square Hotel Group. Mr. Lou is actually a seller of the property. The story has been edited to reflect that.