MCR Purchases The Lexington Hotel, Autograph Collection by Marriott, in New York City for $185 Million

MCR | July 20, 2021

NEW YORK — July 20, 2021 — MCR, the country’s 4th-largest hotel owner-operator — has acquired the 725-room The Lexington Hotel for $185 million, which equates to $255,000 per guestroom. The hotel was purchased by MCR in a joint venture transaction with Island Capital Group and Three Wall Capital LLC. Located along Lexington Avenue’s Hotel Alley at 48th Street, the iconic Lexington Hotel was landmarked in 2016 as one of the most architecturally significant properties in Manhattan. Since its opening in 1929, The Lexington Hotel has housed historic figures, international celebrities, world leaders and renowned sports icons. Specialt...