**Blackstone Acquires Kimpton Hotel Eventi in Midtown Manhattan for $175M**
Blackstone’s BRE Hotels has acquired the 292-room Kimpton Hotel Eventi, located at 835 Avenue of the Americas in Midtown Manhattan, for $175 million. The seller was DLJ Real Estate Capital Partners, according to published reports.
The transaction comes as hotel demand in New York City continues to recover strongly from the pandemic-era downturn.
“This transaction reflects our longstanding conviction in New York City and growth in travel,” said Michelle Gelshteyn, managing director at Blackstone. “Hotel demand in New York is nearing pre-COVID levels, while no new hotel construction permits have been filed in the past three years, creating a compelling backdrop for fundamentals.”
Kimpton Hotel Eventi originally opened in February 2010 as the brand’s fourth location in New York City. The 52-story mixed-use building took four years to complete and includes both hotel space and residential units. A third Kimpton-branded property is expected to open in Manhattan later this year, further expanding the brand’s presence in the city.
