In a joint venture, Patriarch Equities, Highgate and Sioni Group have acquired the 618-room Affinia Manhattan hotel. Highgate will assume management duties of the hotel, which will be rebranded as the Stewart Hotel.
“Highgate is thrilled to complete the acquisition of Affinia Manhattan NYC, now the Stewart Hotel, along with our new partners at Patriarch Equities and Sioni Group,” says Neil Luthra, principal, Highgate. “The Stewart is an exciting addition to Highgate’s collection of independent hotels, particularly given its desirable location at the crossroads of an area that should see meaningful investment and redevelopment activity in the coming years.”
Located at 371 Seventh Ave., across from Madison Square Garden and a walk away from Fifth Avenue, the 28-story hotel has more than 10,000 square feet of event space.