Jay And Vivek Corp Acquires Hotel In Saint Petersburg For $11.8M

The hotel located at 1200 34th St. N in Saint Petersburg has been sold in a recent transaction. The property, a 129-unit hotel with a total area of 73,225 square feet, was purchased by Jay and Vivek Corp for a sale price of $11,800,000. The hotel is part of the IHG Hotel Group.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $11,800,000
• Units: 129
• Price Per Unit: $91,473
• Square Footage: 73,225
• Price Per Square Foot: $161
• Date: 11/27/2021
• Market: Saint Petersburg

The sale was facilitated by IHG Hotel Group's representative, Keith Barr. Jay and Vivek Corp, as the buyers, acquired the property from IHG Hotel Group. The transaction marks a significant milestone in the hospitality market of Saint Petersburg.