NEW YORK CITY-The NH Jolly Madison Towers hotel situated on East 38th Street and Madison Avenue has reached sales block. Madrid, Spain-based NH Hotels has hired Jones Lang LaSalle to market the 242-room hotel and it is the only holding in the US for the hotel chain.
Experts predict that the property will draw a healthy level of interest because of the growth in the tourism business in New York City. Tom McConnell estimated that the hotel could fetch about $500,000 per room. For the full story, go to Crain's New York Business .
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