The shuttered Hilton Times Square hotel has lost nearly 62% of its value since permanently closing in the fall of 2020, according to data from Trepp, an analytics firm that tracks commercial properties and their mortgages.
The 460-room hotel, now worth just $93.8 million, sold in 2010 for $246 million to Sunstone Hotel Investors, a California-based real estate investment trust. But Sunstone announced in September 2020 that it was laying off more than 200 staffers and permanently closed the hotel’s doors the following month in one of the largest industry casualties of the pandemic.
By that December Sunstone had surrendered the building to its lender, Torchlight Investors, instead
→ Continue reading at Crain's New York Business
