Host Hotels Spends $20M To Own Times Square Marriott

Law360, New York (December 12, 2013, 7:00 PM EST) -- Host Hotels & Resorts Inc. has purchased the New York Marriott Marquis Hotel in Times Square, where it had a 75-year lease, for $19.9 million, according to property records filed Thursday.

Host Hotels, which owns several Marriott hotels around the country, had been leasing the property from the Empire State Development Corp. until Tuesday, when the controversial deal took place.

The less than $20 million price tag had been a cause of contention with New York City Comptroller John Liu earlier this year, when he pointed...
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