Post Covers Recent $148.5 Million Sale of Viceroy Hotel Under Ground Lease with Olshan Client

Firm News

The New York Post reported that the new Viceroy New York Hotel at 120 West 57th Street is being purchased by American Realty Capital New York Recovery REIT for $148.5 million. The new hotel was developed by ARK Real Estate. It is subject to a development ground lease with Olshan client Ricland LLC, controlled by well-known real estate investors Richard Chapman and Lawrence Friedland. Olshan attorneys Samuel Ross, Thomas Kearns and Hyman Kindler represent the fee owner under the ground lease, and Ross handled the sale from the fee owner’s perspective.

Media Contact

Marketing Contact
Mizi Mehaj
Marketing & Administrative Manager
mmehaj@olshanlaw.com
212.451.2319


Jump to Page

Necessary Cookies

Necessary cookies enable core functionality such as security, network management, and accessibility. You may disable these by changing your browser settings, but this may affect how the website functions.

Analytical Cookies

Analytical cookies help us improve our website by collecting and reporting information on its usage. We access and process information from these cookies at an aggregate level.