Azora Exan Buys Flatiron Hotel From Premier Equities For $47.9M

The 64-room Flatiron Hotel located at 1141 Broadway/ 9 W 26 Street in the Flatiron market was sold for $47.9 million. The property was acquired by Azora Exan, the U.S. arm of European real estate investment firm Azora, from Premier Equities. The sale price equated to $1,547 per square foot.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $47,900,000
• Address: 1141 Broadway/ 9 W 26 Street
• Market: Flatiron
• Buyer: Javier Landecho - Azora Exan
• Seller: Premier Equities
• Brokers:
  • Adam Etra - Newmark
  • Adam Spies - Newmark
  • Marcella Fasulo - Newmark
  • Meaghan Philbin - Newmark
  • Michael Collins - Newmark
• Keys: 64
• Price Per Key: $748,438

Adam Etra, Adam Spies, Marcella Fasulo, Meaghan Philbin, and Michael Collins from Newmark facilitated the successful sale of the Flatiron Hotel. Premier Equities managed to sell the renovated hotel after it spent a year on the market, ultimately closing the deal with Azora Exan for $47.9 million.