Winthrop to sell Times Square hotel development for $1.5b
Winthrop Realty Trust has agreed to sell its interest in 701 Seventh Ave., a hotel development site in Manhattan’s Times Square area, for $1.53 billion, according to The Real Deal.
The buyers are Maefield Development and Fortress Investment Group.
The 39-story development has a 452-room Marriott Edition Hotel and 76,000 square feet of retail.
