Woodridge Capital Partners Picks Up 600-Room Midtown Hotel for $148M
Los Angeles-based developer and investment firm Woodridge Capital Partners has purchased a 17-story, 596-room Holiday Inn at 440 West 57th Street from Jaseme Associates for $148 million, according to records that hit the city system today.
The sale of the building between Ninth and 10th Avenues closed on May 12. Deutsche Bank provided $90 million in financing for the acquisition of the property, according property records.
Michael Rosenfeld, the chief executive office of Woodridge, did not immediately respond to a request for comment.
Jaseme Associates is an LLC run by Florida-based hotel operator Meyer Companies. A representative for Meyer Companies did not immediately return a request for comment.
The hotel features a rooftop pool, health and fitness center, a lounge, a business center, a café and a ballroom, according to its website. Currently, a standard room goes for $119 per night (not including breakfast). There is an Icon Parking Systems garage under the hotel.
A manager at the hotel declined to comment on the sale.