The Real Deal New York

Westbrook Partners paid $60M for Standish Hotel

Private equity firm said to be mulling condo conversion at Brooklyn Heights property

June 24, 2014 10:50AM
By Rich Bockmann

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Peter-Merrigan

From left: Peter Merrigan of Taurus Investment Holdings and The Standish Hotel

Private equity firm Westbrook Partners paid $60 million earlier this month to pick up Brooklyn Heights’ Standish Hotel, a 1903 Beaux Arts-lodge-turned-luxury-rental that is reportedly eyeing a condo conversion, city records show.

Westbrook declined to comment, but public records show the company paid $60 million for the 12-story building overlooking the Brooklyn Heights Promenade with views of the city.

The Watchtower Society of The Jehovah’s Witnesses sold the building at 169 Columbia Heights for $50 million in 2007 to the Boston-based Taurus Investment Holdings, which converted it into 94 luxury apartment rentals shortly thereafter.

The new ownership is reportedly considering a condo conversion.

Elsewhere in Brooklyn, Westwood reportedly proposed building a 95-unit residential project at 223 North 8th Street in Williamsburg last summer after selling off a four-building rental portfolio in Manhattan for $600 million.

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