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Qatar Investment Authority Buys Park Lane Hotel for $623M
The Qatar Investment Authority (QIA) has acquired Park Lane Hotel in Midtown for approximately $623 million, as reported by Crain’s New York Business.
The QIA, a sovereign wealth fund of Qatar, is said to have taken over ownership from the Witkoff Group and Abu Dhabi-based Mubadala Investment Co. The deal, although not yet officially recorded as a deed transfer, seems to signal a change in ownership from both Witkoff and Mubadala.
The hotel’s history is marred by its involvement in the 1MDB scandal, a massive $4 billion international fraud case. Originally purchased by Witkoff in partnership with financier Jho Low, the QIA’s acquisition signifies a new chapter for the luxury hotel located at 36 Central Park South.
- ◦Sale/Acquisition
