New York’s 725-room Lexington Hotel, which once counted guests including Yankees Hall of Famer Joe DiMaggio and Hollywood icon Marilyn Monroe, has closed a $155 million refinancing loan.

The historic landmark’s ownership, a joint venture between MCR, Island Capital Group and Three Wall Capital, got the bridge loan from Hudson Bay Capital, Walker & Dunlop, which brokered the deal, said Thursday in a statement. The ownership bought the property in 2021 for $185.3 million from DiamondRock Hospitality, a lodging-focused real estate investment trust, which had acquired the property for $335 million in 2011.

Located at the intersection of 48th Street and Lexington Avenue, the property, originally named Hotel Lexington, has been under Marriott’s Autograph Collection brand since 2013. It’s been the home of several Hollywood celebrities since it debuted in 1929, including Dorothy Lamour, who is best remembered for appearing in the “Road” series alongside Bing Crosby and Bob Hope, the hotel’s website has said.

DiMaggio and Monroe lived in Suite 1806 — now called the Norma Jeane Suite after Monroe’s birth name — at Hotel Lexington during their brief marriage in the 1950s, the hotel said.

The property’s refinancing comes as New York’s hospitality market has continued its rebound following shutdowns during the pandemic.

The city’s hotel occupancy rate has about doubled to 82.4% from 43.1% in March 2021, according to CoStar data. That’s just shy of the 86.3% level in 2019.

"This transaction not only underscores the resilience of the New York City hospitality market but also reaffirms the enduring appeal of this city as a major tourist and business destination,” Jordan Casella, lead broker for the deal and managing director at Walker & Dunlop, said in the statement. Casella added there was “significant interest from the capital markets for the refinance.”

The 28-story hotel also benefits from its proximity to major office developments and transportation hubs, Walker & Dunlop said. The hotel is near the Grand Central Terminal transit hub and just a block away from the corporate headquarters-heavy Park Avenue.

The Walker & Dunlop New York capital markets team, led by Jordan Casella, Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz and Christopher de Raet, arranged the transaction.