Singapore-based Ascott Residence Trust has closed on the purchase of the Hilton DoubleTree hotel at 341 West 36th Street in a deal valued at $106 million. Completed in 2007, the 81,000 square foot, 25-story 224 room asset traded for $473,215 per room key. The seller, Magna Hospitality Group, bought the Garment District property in 2012 for $83 million. The deal was completed with a $65.4 million loan provided by Oversea-Chinese Banking Corporation.
