The conglomerate is currently working to finalize a definitive purchase agreement with the target of closing the deal before the end of 2026. While the group views the acquisition as a strategic profit catalyst, management noted that no guarantees exist regarding the successful completion of the transaction.

This move follows the March 2026 acquisition of the AMTD IDEA Tribeca Hotel at 39 6th Ave, which the group purchased for $69 million. AMTD currently manages a portfolio of six properties across four continents, including locations in Hong Kong, Singapore, London, Perth, and Kuala Lumpur. The addition of a second Manhattan property would bring the group's total room count past the 1,000-unit threshold, cementing its hospitality footprint under the AMTD brand.