Rockland County’s troubled Time Nyack Hotel gets a new owner

New York /
Apr.April 11, 2019 04:54 PM

A month after bidding $18.53 million for the Time Nyack Hotel, affiliates of a Scottsdale, Arizona-based real estate investment trust and Juniper Capital Partners have officially purchased the distressed property, LoHud reported. The 133-room hotel’s former parent company, EMC Hotels and Resorts, filed for bankruptcy last year. Now Juniper and an affiliate of IMF Financial, both of which have extensive experience in the finance and hospitality sectors, have closed on their acquisition of the Time Nyack. The boutique hotel opened in May 2016 and was built out of a four-story toy factory that once stood at 400 High Avenue in Nyack, an area that LoHud noted is in the midst of a building boom. The Time Nyack is located almost directly across the Hudson River from the Edge-on-Hudson development in Sleepy Hollow. [LoHud]


Related Articles

arrow_forward_ios
eXp CEO Glenn Sanford and Corofy CEO Eddy Boccara (eXp, Corofy, iStock)
Some like it hot: Influx of agents into Hudson Valley accelerates in September
Some like it hot: Influx of agents into Hudson Valley accelerates in September
Trump Plaza New Rochelle at 175 Huguenot Street and Donald Trump (Getty, Anthony22/Wikimedia)
Trump Plaza New Rochelle dumps Trump Org as property manager
Trump Plaza New Rochelle dumps Trump Org as property manager
Parc Grove apartments, PGIM CEO David Hunt and Pacific Urban Residential CEO Al Pace (Photos via Parc Grove, PGIM, RETCON)
PGIM gets $154M for Stamford apartments as rental market heats up
PGIM gets $154M for Stamford apartments as rental market heats up
Additional reason for the slowdown in contract signings is shrinking inventory, which is likely to make the market even more competitive. (iStock)
As inventory shrinks, suburban NYC home market calms down a bit
As inventory shrinks, suburban NYC home market calms down a bit
Professor Randolph M. McLaughlin ro Newman Ferrara LLP and Aaron Carr of HRI (Getty, Facebook, iStock)
Lawsuit accuses Westchester landlords, brokers of Section 8 discrimination
Lawsuit accuses Westchester landlords, brokers of Section 8 discrimination
Finger and Finger principal Kenneth Finger and landlord activist Jeff Hanley with Westchester (Credit: iStock)
Westchester group lobs its own constitutional challenge to New York’s rent law
Westchester group lobs its own constitutional challenge to New York’s rent law
Lana Zakocela and Justin Etzin in front of their former New Castle home (Credit: Getty, Zillow)
The Seychelles to auction off estate at a discount after diplomat’s divorce
The Seychelles to auction off estate at a discount after diplomat’s divorce
Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more
Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more
Westchester & Fairfield Cheat Sheet: White Plains YMCA site set for $100M apartment complex, $48M Greenwich sale is priciest in 5 years… & more
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...