LuxUrban Hotels Inc. announced that it has signed a 25-year Master Lease Agreement (MLA), inclusive of two five-year options, to operate Hotel 57 in midtown Manhattan ("Hotel 57"). The Company expects to commence operations at Hotel 57 during the current second quarter of 2023. Hotel 57, which will operate under the "LuxUrban Ultra" brand, is a four-star, 204-unit property housed in an historic building on 57 Street in midtown Manhattan.

Hotel 57 offers quiet accommodations and upscale amenities in one of the most desirable locations in New York City, providing easy access to the world-famous shops of 5 Avenue, Central Park, St. Patrick's Cathedral, and Rockefeller Center. Updated Property Summary: As of March 31, 2023, company leased 12 properties with 1,034 units available for rent.

As of May 15, 2023, company leased 20 properties with 1,807 units and portfolio is as follows: Property # of Units Property Lease Lease Lease Lease Remaining at 3/31/23 Extension Annual Date: Type Term (years) Option Commenced (remaining at 3/31/16). Escalation: 1, 1200 O: 1200 24 Entire 10-year 3.8 None 3 % 12/31/2016 Ocean Dr Miami building, Miami Beach, FL licensed for 33139.