MCR and Island Capital Group have jointly acquired the Sheraton New York Times Square Hotel, a 1,780-room hotel in the heart of midtown Manhattan, for $373 million from Host Hotels & Resorts.

Hotel mortgage defaults and foreclosures have become somewhat ubiquitous in the Big Apple, but the Sheraton New York Times Square Hotel has received some leeway from its lender. This week The Real ...

Hotel owner-operator MCR agreed to acquire the Sheraton New York Times Square from Host Hotels & Resorts for $356 million, according to research platform Green Street. The 1,780-key hotel last ...