Knightstone Capital Management, a Toronto-based real estate development company, acquired the 189-room Courtyard by Marriott New York Manhattan/Fifth Avenue at 3 E. 40th St. in New York from DiamondRock Hospitality for $33 million, or approximately $174,603 per room.
Knightstone Capital buys Manhattan Courtyard by Marriott in leasehold interest deal
DiamondRock Hospitality sells 189-room Midtown hotel for $33 million
By Justin Hubbard with
June 1, 2026 | 2:44 P.M.
This news story is available exclusively to CoStar subscribers.
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
This news story is available exclusively to CoStar subscribers.
Ready to Learn More?
Sign Up For a Personalized Demo.
Sign Up For a Demo To Learn More.
Already A Subscriber? Sign In
IN THIS ARTICLE
- Properties
- Courtyard by Marriott New York Manhattan
3 40th St, New York, NY
- Companies
- Knightstone Capital Management
Construction
- DiamondRock Hospitality Co.
Real Estate
- Contacts
- Scott Ellman
Managing Director, Eastdil Secured, LLC
- Alyssa Kidd
Senior Vice President, Eastdil Secured, LLC
- Jeffrey Davis
Managing Director, Eastdil Secured, LLC