# AKA Hotels Secures Full Midtown Portfolio | Real Estate News

Page: https://stenobird.com/podcast/real-estate-news-today-2-min-news-the-daily-news-now-7843453/aka-hotels-secures-full-midtown-portfolio-real-estate-news
Text version: https://stenobird.com/podcast/real-estate-news-today-2-min-news-the-daily-news-now-7843453/aka-hotels-secures-full-midtown-portfolio-real-estate-news.md
Podcast: [Real Estate News Today | 2 Min News | The Daily News Now!](https://stenobird.com/podcast/real-estate-news-today-2-min-news-the-daily-news-now-7843453)
Published: 2026-07-27T18:26:27+00:00
Episode link: https://sources.thednn.ai/bcbed5a6dc57e756
Audio file: https://api.fastcast.ai/audio/fbe67532-9245-4f44-baa3-9c5bdd4b2d39.mp3
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Duration seconds: 121

## Resource

Larry Korman’s AKA Hotels just snatched full control of three Midtown Manhattan extended-stay properties for $220 million, buying out BlackRock and locking in ownership of the buildings on East 56th, West 44th, and West 58th Streets. With 322 keys and a $680K-per-key valuation, this move keeps the properties under the AKA Hotels Residences brand — a smart play to resist pressure from investors eyeing apartment conversions. The Korman family, real estate royalty with five generations in the game, originally assembled this portfolio in 2006-2007 for $255M and just sold their Tribeca Smyth hotel for $41M last summer. Amid rising costs and pandemic scars, the hotel industry’s recent labor deal — delivering big pay bumps to thousands of workers — could finally ease some pressure. This consolidation isn’t just about control — it’s a bold, strategic bet on future growth in a tough, evolving market. Listen in comfort: Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN: advertise@thednn.ai This is an automated, high-level news summary based on public reporting. Report issues to feedback@thednn.ai. View sources & latest updates: https://sources.thednn.ai/bcbed5a6dc57e756

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