Gemini auctions Jade, Best Western Seaport hotels for $116M

Legal battle among firm's founders continues

TRD New York /
Dec.December 03, 2015 08:42 AM

Gemini Real Estate Advisors auctioned two of the four buildings it decided to sell back in September, at the same time as a legal rumble broke out among its owners.

The company sold the Jade Hotel at 52 West 13th Street in Greenwich Village for Bridgeton Holdings for $78 million and the Best Western Seaport at 33 Peck Slip in Two Bridges to Howard Hughes Corp. for $38.3 million.

Both transactions will close in the next 20 days, the New York Observer reported.

The company is also marketing two other properties, the Wyndham Garden at 37 West 24th Street, for which it’s received a bid of $57 million from Bridgeton Holdings, as well as a vacant lot near Bryant Park.

Earlier this year, one of Gemini’s partners, William Obeid, sued the other two, Dante Massaro and Christopher La Mack, claiming they’d moved to sell the properties without his consent. [NYO]Ariel Stulberg


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
Loading...