Investor Group Spends $400M In Standard Hotel Buyout

Law360, New York (February 19, 2014, 7:32 PM EST) -- A group of investors in the Standard Hotel near the High Line in Manhattan has purchased the property from Dune Real Estate Partners and Greenfield Partners for about $400 million, a source close to the deal confirmed Wednesday.

The investor group will manage the hotel through an entity known as Standard International, which was previously controlled by hotelier Andre Balazs.

The 330-room hotel at 848 Washington St. sold for about $1.2 million per room in what some brokers speculated could be a record for the Meatpacking...
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