Alex Hotel in Midtown East sells for $115M

TRD New York /
Feb.February 01, 2013 05:15 PM

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.


Related Articles

arrow_forward_ios
Alex Sapir and the NoMo Soho hotel at 9 Crosby Street (Credit: NoMo SoHo)

Sapir Corp.’s stock drops in Tel Aviv

181 Varick Street (Credit: Google Maps)

Claremont Companies buys Soho Marriott for $59M

Rendering of the Staybridge Suites at 38-59 11th Street

Long Island City hotel project moves forward with construction loan

Heritage Equity Partners’ Toby Moskovits, Benefit Street Partners real estate managing director Micah Goodman, and the Williamsburg Hotel at 96 Wythe Avenue (Credit: Google Maps)

Toby Moskovits’ Williamsburg Hotel is headed for receivership following $68M loan default

461 West 34th Street with Marx Development Group's David Marx (Credit: Google Maps)

David Marx lands $202M refi for Hudson Yards hotel

30 West 31st Street and 52 West 36th Street (Credit: Google Maps)

South Korean firm snaps up two Midtown hotels for $137M

Brookfield Property Group CEO Brian Kingston and 652 11th Avenue (Credit: Google Maps)

Brookfield drops $83M on Hell’s Kitchen hotel

Mensur Cekic, Hudson Yards’ director of residences

From private tutors to meditation sessions, inside NYC’s new amenities battle

arrow_forward_ios