Vanbarton Group Acquires Hotel In Financial District For $82.97M

The Vanbarton Group has acquired a hotel property located at 17 John Street in the Financial District. The property is situated on a lot size of 10,060 square feet and has a building square footage of 111,465. The sale price for this transaction was $82,973,495, with a price per square foot of $744. The property was last sold on August 28, 2014, for a price of $85,300,000. The transaction also involved an alteration permit of type 2, issued on August 29, 2018. The dimensions of the lot are 77.58 feet by 135.83 feet. The property is zoned as C5-5 and LM, allowing for various uses.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $82,973,495
• Market: Financial District
• Address: 17 John Street
• Buyer: Vanbarton Group
• Seller: Prodigy Network & Shorewood Real Estate Group
• Building Square Footage: 111,465
• Price per Square Foot: $744
• Last Sale Price: $85,300,000 (8/28/2014)
• Permits: Alteration type 2 (08/29/2018)
• Lot Size: 10,060
• Lot Dimensions: 77.58 ft x 135.83 ft
• Zoning: C5-5, LM

Richard Coles, Lawrence Davis & Garry Tischler represented the property in this transaction.