NEW YORK CITY The 788-key New York Helmsley hotel is reportedly being listed by CB Richard Ellis with an asking price of US$300 million.
Neither Helmsley Hotels nor CBRE has confirmed the listing, which is being reported by the New York Post. The hotel near Grand Central Station is one of just three properties remaining in the Helmsley Hotels portfolio, which once totaled 21.
The listing comes amid an effort by The Leona M. and Harry B. Helmsley Charitable Trust to sell its stakes in at least some of the nine office buildings it is invested in. Crain’s New York Business reports that the trust is exploring the possibility of transferring its stakes to a public REIT.