Luxury hotel owner Strategic Hotels & Resorts Inc has agreed to buy Manhattan hotel Jumeirah Essex House for about $375 million (Dh1.38 billion) , two sources familiar with the matter said on Tuesday.
The deal for the 509-room Art Deco hotel at 160 Central Park South was sold by Dubai-based Jumeirah and is expected to close within a month, according to one of the sources, who asked not to be identified because he was not authorised to speak about the matter on the record.
Dubai Investment Group, Jumeirah’s parent, bought the Essex House in 2005 for $423.9 million, according to real estate research and information company Real Capital Analytics.
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