BLDUP Newsletter

Envoy Hotel Update 07/22/16

Envoy Hotel sold to Hersha Hospitality for over $70 million


Norwich Partners, developer of the Envoy Hotel in Boston's Seaport District, has sold the Envoy Hotel building for $70,789,300 to Hersha Hospitality of Pennsylvania as recorded today in the Suffolk County Registry of Deeds. Norwich Partners acquired the hotel site in December 2011 for $8,998,000 and secured $38.5 million in financing for the project through RBS Citizens NA in August 2013. The Envoy Hotel broke ground in October 2013 and cost approximately $70 million to build.


The Envoy Hotel, open since summer 2015, features 136 keys as well as the popular Lookout rooftop and Outlook restaurants/bars. The hotel was voted Best New US Hotel of 2015 by USA Today. The following is the deed for the sale of the Envoy Hotel to Hersha Hospitality:


   

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