Jones Lang LaSalle Hotels Markets Sale of Boutique Hotel Portfolio

NEW YORK CITY-The Mansfield, The Roger Williams and The Shoreham, all luxury properties that are located in midtown Manhattan are being offered either individually or as a portfolio with management availability, but all are subject to ground leases. Jones Lang LaSalle Hotels has been appointed to market the sale of the 506-room boutique hotel portfolio.

The beaux-arts styled Mansfield is situated on 44th St., steps away from Times Square, Broadway and Fifth Ave. shopping. It is a 12-story, 127 guest room boutique hotel that features copper-clad sheathing, cast-iron and stone-detailing, preserved terrazzo floors and a two-story lobby. The Mansfield is also home to the M Bar.

The 202-room Roger Williams is located at Madison Ave. and 31st St. near the Flatiron District. The hotel caters to the publishing, finance and design crowd characteristic of its midtown South location. World famous architect Rafael Vinoly designed the guest rooms, which include semi-opaque glass bathroom walls, custom made golden maple furnishings and shoji-style window screens.

The 177-room Shoreham Hotel is a short walk to Central Park, Carnegie Hall, Trump Tower, the Museum of Modern Art and Broadway theatres. The Shoreham was constructed in 1927 and renovated (adding 92 additional guest rooms) in 1999. Guests can dine at the Shoreham Restaurant or at world-renowned La Caravelle, which is leased to and operated by a third-party.

“This offering is a rare opportunity to acquire three hotels located in the most stylish areas of New York City,” says Art Adler, managing director and CEO–Americas for Jones Lang LaSalle Hotels. “New York City is a highly desirable hotel investment market right now, and we expect substantial interest in these properties.”

“This portfolio contains three unique hotels that are proximate to some of the city’s most exciting tourist, shopping and corporate sites,” says Alan Tantleff, Executive Vice President of Jones Lang LaSalle Hotels. “All are popular with leisure travelers and corporate executives.”

Jones Lang LaSalle Hotels provides clients with value-added investment opportunities and advice. Its services include transactions, mergers and acquisitions, financial advice and capital raising, valuation and appraisal, asset management, strategic planning, operator assessment and selection and industry research.