57 & 59 Newbury Street Update 05/06/24

Pair of Peabody Hotels Trade for $31M

Giri Hotel Management has acquired a pair of neighboring hotels along Newbury Street in Peabody for over $31M. The Homewood Suites located at 57 New Newbury, featuring 85 rooms, sold for $13,877,000. The Hampton Inn at 59 Newbury which includes 120 rooms was acquired for $17,678,000. The hotels are located right off Route 1 near the I-95 interchange.

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