Tyler Morse’s MCR has acquired the Royalton Hotel at 44 West 44th Street from Highgate + Rockpoint Group for $40.8 million. The 168-room hotel spans 103,750 square feet, and is currently closed due to the pandemic.
- Worth Noting: The hotel is expected to reopen on Sept. 30, and reportedly needs some work. “It’s not as cheap as it seems”, a source told the NYPost.
- Flashback: Highgate + Rockpoint Group paid $55 million for the property in 2017. [NYPost]