Spanish billionaire Amancio Ortega picks up Murray Hill hotel for $68M

Spanish fast-fashion mogul Amancio Ortega’s Ponte Gadea purchased a 205-key hotel at 70 Park Avenue for $67.6 million, according to city property records. The seller was hotel investment firm KHP Capital Partners. The neoclassical-style Murray Hill hotel was built in 1928 and will now be operated by Spanish hotel company Grupo Iberostar. Seller KHP bought the […]