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New York & Tri-State  + Midtown New York  + Hospitality  | 

Former NY Marriott East Side Hotel Trades to Partnership 

A joint venture of Hawkins Way Capital and Värde Partners has acquired 525 Lexington Ave., formerly the 655-key New York Marriott East Side. Although the sale price wasn’t disclosed, Green Street reported last year that the landmarked property was expected to fetch less than the $270 million paid by Ashkenazy Acquisition Corporation and Deka Immobilien in 2015. 

“525 Lexington represents a compelling opportunity to increase our footprint in the heart of Manhattan at a favorable basis,” said Ross Walker, Hawkins Way Capital’s co-founder and managing partner. “We believe the property will benefit from an injection of fresh equity and perspective to help weather economic and financial market headwinds and remain bullish on long-term growth and a sustained recovery of the New York market in general.” 

525 Lexington will be integrated into a nationwide network of more than 5,700 units and 9,500 beds managed by Hawkins Way’s affiliated property management company. 


Inside The Story

Hawkins Way Capital

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).