Raymond Chau purchased the 169-key Hilton Garden Inn at 121 West 28th Street in Chelsea for $49.9 million, approximately $295,000 per room. The seller, Han’s Holding Group, took a slight loss, having acquired the property for $53.8 million nine years ago. The 71,000 sq. ft. hotel was recently refinanced with a $24 million loan from Citibank.
169-key Hilton Garden Inn
