Stephen Ross Of Related Ross Acquires Hotel In West Palm Beach For $190M From Wheelock Street Capital
251 North Narcissus Avenue
$190,000,000
Building Size
—
Asset Type
Hotel
Closing
Nov 7, 2025
About this deal
AI
The property involved in this transaction is a hotel asset located at 251 North Narcissus Avenue in West Palm Beach. The property is part of the Marriott Autograph Collection and consists of 208 rooms. The sale price for this asset is $190,000,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $190,000,000
- Buyer: Stephen Ross - Related Ross
- Seller: Merrick Kleeman & Jonathan Paul - Wheelock Street Capital
- Broker: CBRE
- Market: West Palm Beach
Stephen Ross is acquiring the hotel from Wheelock Street Capital, marking a significant addition to his investment portfolio in downtown West Palm Beach. His firm, Related Ross, has been actively involved in various sectors including hospitality, office, and residential projects in the region.
On the Map
$190,000,000
Hotel
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Players
West Palm Beach Hotel Market Snapshot
Boundary boundary · Hotel · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93