Starwood Capital Group, a leading global private investment firm, announced today that it has agreed to sell, on behalf of a controlled affiliate, the flagship Baccarat Hotel New York at 20 West 53rd Street in Manhattan to an affiliate of Sunshine Insurance Group. Terms of the transaction were not disclosed. The hotel occupies the first 12 floors of the 50-story Baccarat Hotel and Residences project scheduled to open the first week of March.
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Starwood Capital Group was advised by Eastdil Secured LLC and represented by Greenberg Traurig LLP on the sale of Baccarat Hotel New York and Sunshine Insurance Group was advised by JLL's Hotels & Hospitality Group and represented by Holland & Knight LLP.
Read "Starwood Capital Group Sells Baccarat Hotel New York To Sunshine Insurance Group Affiliate."