An investment consortium led by the Witkoff Group, and majority backer Jynwel Capital and its investors, has closed on the acquisition of the Helmsley Park Lane Hotel in New York for $660 million.
The investment group intends to make upgrades to the 47-story, 605-key, 446,000-square-foot luxury hotel and rebrand it as the Park Lane New York.
“The Park Lane sits at the very center of retail and culture in Manhattan, with sweeping views of Central Park,” says Steven Witkoff, chairman and CEO of the Witkoff Group. “We look forward to working with our partners to continue to operate the property as one of the preeminent hotels in New York City.”
