One of Brooklyn’s luxury hotels is in new hands.
Host Hotels & Resorts acquired the 1 Hotel Brooklyn Bridge in Dumbo from Starwood Capital Partners for $202 million in cash, the buyer announced. Host bought a leasehold interest, which has 83 years left in its term. The deal works out to more than $1.03 million per key.
The hotel is expected to be one of the company’s top 10 assets, it said, based on estimated full-year results. Host expects total RevPAR to reach $1,130.
The hotel is located at 60 Furman Street, along the East River and next to the famed bridge. The 195-key property includes meeting space, a spa, underground parking, a fitness center and a rooftop pool.
The ground floor also features Barbuto Brooklyn, a restaurant by James Beard Award-winning chef Jonathan Waxman.
“The acquisition of 1 Hotel Brooklyn Bridge expands our New York luxury presence into a new submarket with significant barriers to entry while further strengthening our relationship with the 1 Hotel brand,” Host CEO James Risoleo said in a statement.
Host also announced the acquisition of a fee simple interest in the 308-room Renaissance Dallas at Plano Legacy West Hotel in Texas for $172 million.
Host and Barry Sternlicht’s Starwood have found themselves on opposite sides of a New York hotel deal before. In 2024, Host acquired 1 Hotel Central Park from Starwood Capital Group for $265 million.
Host bought the 18-story, 229-room building at 1414 Sixth Avenue with a $150 million mortgage from Teachers’ Retirement System of NYC, according to documents filed with the city. The loan replaced a $162.5 million mortgage obtained in 2018.
Last year, T2 Hospitality, a California-based investment group, acquired the Washington Marriott at Metro Center for $128 million from Host.
Host’s portfolio spans 77 properties — mostly in the United States — and nearly 42,000 rooms.
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