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March 21, 2018  

Lower Manhattan Hotel Back on Block

Magna Hospitality is taking another swing at selling a full-service hotel in Lower Manhattan.The leasehold interest in the 399-room DoubleTree by Hilton Hotel New York Financial District is on the market for the second time in as many years. Magna, of Warwick, R.I., has given the listing to Eastdil Secured.When it was shopped a year ago via CBRE, market pros estimated the value at about $140 million, or $351,000/room. Pricing expectations this...

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