The Real Deal New York

Alex Hotel in Midtown East sells for $115M

February 01, 2013 05:15PM
By Zachary Kussin

From left: Alexico’s Simon Elias and Izak Senbahar, Rockpoint head Pat Fox and the Alex

The 203-room Alex Hotel, located at 205 East 45th Street, has sold to an affiliate of the Wyndham Hotel Group for $115 million, The Real Deal has learned. The sale comes on the heels of the $180 million purchase of the Flatotel by Joseph Chetrit and David Bistricer, reported earlier today. Both properties were owned by a joint venture between Rockpoint Group, Atlas Capital Group and the Procaccianti Group.

Previously, the Alexico Group, controlled by Simon Elias and Izak Senbahar, had owned the pair of hotels before facing foreclosure in 2010.

The Rockpoint, Atlas, Procaccianti group purchased the debt on the two hotels, held by Anglo Irish Bank, at a discount in 2010 for an undisclosed sum, then sued to foreclose on the borrowers that same year.

Mark Schoenholtz of Eastdil Secured represented the joint venture in the sale, according to a source with knowledge of the deal.

Wyndham Hotel Group, Rockpoint, the Procaccianti Group and Schoenholtz did not immediately respond to requests for comment. Atlas declined to comment.

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