Commercial Observer Raymond Chau has paid $49.9 million, or $295,266/room, for the 169-room Hilton Garden Inn hotel at 121 West 28th St. in Manhattan’s Chelsea section. The Brooklyn, N.Y., investor acquired the property from Han’s Holding Group, which had purchased it in 2016 for $65 million. Citibank provided a $24 million loan against the property last […]

The post Hilton Garden Inn in Manhattan’s Chelsea Area Sells for $49.9Mln appeared first on Commercial Real Estate Direct.