Starwood Capital Group Sells Baccarat Hotel New York to Sunshine Insurance Group Affiliate

Starwood Capital Group | February 9, 2015

Set to Open in March the Hotel and Residences will be Managed by Starwood's SH Group GREENWICH, Conn., Feb. 9, 2015 -- Starwood Capital Group, a leading global private investment firm, announced today that it has agreed to sell, on behalf of a controlled affiliate, the flagship Baccarat Hotel New York at 20 West 53rd Street in Manhattan to an affiliate of Sunshine Insurance Group. Terms of the transaction were not disclosed. The hotel occupies the first 12 floors of the 50-story Baccarat Hotel and Residences project scheduled to open the first week of March. The New York property, located across the street from the Museum of Modern Art...