The Empire Hotel Group has acquired the Milburn Hotel on the Upper West Side, paying $69.4 million. The 137 room hotel is located at 242 West 76th Street and traded for just under $506,570 per key. The 15-story hotel was recently converted from apartments, according to a permit application filed with the Department of Buildings in 2014. The deal was finalized with a $32 million mortgage from the Israel Discount Bank of New York.
