New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


New York & Tri-State  + Downtown New York  | 

German Investors Buy WTC Courtyard Marriott

The Courtyard Marriott just opened its 317 new rooms at the World Trade Center in Lower Manhattan. But developers Hidrock Properties and Robert Finvarb Companies have already sold the property, closing the deal Dec. 22.

Union Investment’s open-ended real estate fund UniImmo Global, based in Hamburg, Germany, paid more than $200 million for the new, 30-story hotel. Boston-based Pyramid Hotel Group will operate the 30-story hotel on Union Investment’s behalf. The developers had reportedly paid $28 million for the site in 2012. The developers retained a 2,600-square foot retail space at the building.


Inside The Story

Read the statement from advisors DLA Piper

About Connect CRE

Step 1: Select Education
Finance_Stat_BU_300x250_Banner_DG23_Prim_B_AC_2 Advertisement
Conf_Stat_300x250_Banner_DG23_Retarg__2 Advertisement
New call-to-action
Cert_Stat_BU_300x250_Banner_DG23_Prim_A_AC_2 Advertisement