68.5 F
Los Angeles
HomeInvestmentsBrooklyn's Luxury William Vale Hotel Sells for $177 Million After Marketing Campaign...

Brooklyn’s Luxury William Vale Hotel Sells for $177 Million After Marketing Campaign by A&G and Eastdil Secured

Brooklyn’s Luxury William Vale Hotel Sells for 7 Million After Marketing Campaign by A&G and Eastdil Secured

EOS Hospitality acquires iconic, skyline-defining hotel in court-approved bankruptcy sale in successful outcome for bondholders

NEW YORK, June 19, 2024 /PRNewswire/ — In another hospitality-sector bankruptcy sale, global real estate investment bank Eastdil Secured and national advisory firm A&G Real Estate Partners have successfully marketed the luxury William Vale Hotel in Brooklyn’s Williamsburg neighborhood.

The transaction, which followed a three-year ownership restructuring and litigation process led by Asaf Ravid, Chief Restructuring Officer of All Year Holdings Ltd., resulted in full payment of all outstanding secured bonds.

Stalking horse bidder EOS Hospitality, a New York-based, full-service hospitality company with a diverse portfolio of hotels across the United States, closed on the skyline-defining, luxury lifestyle hotel on June 18. The $177 million transaction was approved by the U.S. Bankruptcy Court for the Southern District of New York on May 29.

Perched above Kent Park with unobstructed views of Manhattan, the 183-key, 21-story tower at 111 N. 12th St. is one of just four luxury hotels in Brooklyn. Built in 2016, the hotel boasts top-shelf eateries by restaurateur Andrew Carmellini, 7,300 square feet of high-end indoor and outdoor function spaces and multiple storefronts and offices.

Acting as exclusive advisors, Eastdil Secured and A&G previously marketed another luxury hotel in the neighborhood—the 147-room Williamsburg Hotel, which sold last year for a total cash-and-debt price of $96 million.

About A&G Real Estate Partners

A&G delivers strategies designed to yield the highest-possible value for clients’ real estate. Key areas of expertise include real estate sales, occupancy-cost reductions, lease terminations, real estate due diligence, valuations, and facilitation of growth opportunities. Relying on its marketing knowledge, reputation and advanced technology, A&G has advised the nation’s most prominent corporations in both healthy and distressed situations. The firm has sold properties and leases totaling more than $13 billion and achieved nearly $12 billion in rent-reduction and occupancy-cost savings on behalf of clients in every real estate sector. Founded in 2012, A&G is headquartered in Melville, N.Y. For more information, please visit: http://www.agrep.com.

About Eastdil Secured

As the most relevant and trusted advisor in the commercial real estate capital markets, Eastdil Secured creates value for clients through creative, actionable ideas and flawless execution. With an unrivaled combination of capital markets expertise and in-depth understanding of real estate fundamentals, Eastdil Secured delivers best-in-class advice on mergers and acquisitions, sales, joint ventures, debt placement, structured credit and loan sales to investors around the world. Headquartered in New York, Eastdil Secured has a broad global footprint to support clients with offices across the United States in Atlanta, Boston, Charlotte, Chicago, Dallas, Los Angeles, Miami, Orange County, San Francisco, Seattle, Silicon Valley and Washington, D.C., and internationally in Dubai, Dublin, Frankfurt, London, Milan, Paris, Hong Kong and Tokyo. For more information on Eastdil Secured, the global real estate investment bank, please visit https://www.eastdilsecured.com.

Media Contacts: At Jaffe Communications, Elisa Krantz, (908) 789-0700, [email protected]

SOURCE A&G Real Estate Partners

Originally published at https://www.prnewswire.com/news-releases/brooklyns-luxury-william-vale-hotel-sells-for-177-million-after-marketing-campaign-by-ag-and-eastdil-secured-302176271.html
Images courtesy of https://pixabay.com

- Part of VUGA -marketing agency

latest articles

gossip tv free

explore more

free fashion tv