News » The Paramount Hotel In New York Has Been Sold for $275 Million
The Paramount Hotel In New York Has Been Sold for $275 Million
Krystel Dianne, Dec. 19, 2011
RFR Holding has purchased the Paramount Hotel for a sum of $275 million. The 593-room Paramount hotel property is located in the theater district in New York.
The head of RFR, Aby Rosen acquired the property from a partnership of Walton Street Capital and Highgate Holdings.
The Paramount Hotel was one of the first boutique hotels established in New York in the 80’s.
RFR also owns the Gramercy Park Hotel, which Rosen also acquired last year from Schrager. However, RFR primarily owns office buildings such as the Seagram Building and Lever House.
