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New York & Tri-State  + Midtown New York  + Hospitality  | 
The Tuscany Hotel in Midtown Manhattan will be operated by CorpHousing Group under a 15-year master lease

Short-Term Rental Firm Takes 75-Year Ground Lease on Tuscany Hotel

CorpHousing Group Inc. (CHG), which utilizes a long-term lease, asset-light business model to acquire and manage a growing portfolio of short-term rental properties, has acquired long-term rights to the 124-key Tuscany Hotel at 120 E. 39th St. in Midtown Manhattan via a 15-year master lease agreement. The company acquired long-term rights to an undisclosed property in Lower Manhattan a few days earlier. 

The addition of The Tuscany brings to nine the total number of hotels in CHG’s portfolio and the 124 units added increases CHG’s total units under long-term lease to 977. CorpHousing plans to start operating The Tuscany during the fourth quarter and will market the property under its LuxUrban brand. 

Brian Ferdinand, chairman and CEO of CHG, said, “The Tuscany has earned a reputation as a New York luxury destination, and we are proud and excited to add this property to our growing portfolio.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-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 7-10 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 GlobeSt.com 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).

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