Cain International Acquires Hotel In SoHo For $175 Million From CIM Group With Brokers Eastdil Secured

The asset involved in this transaction is a hotel located at 246 Spring Street in the SoHo market. The sale price for the property was $175,000,000. The hotel comprises a total of 276 keys, with a per key price of $634,057.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $175,000,000
• Address: 246 Spring Street
• Market: SoHo
• Keys: 276
• PPK: $634,057
• Buyer: Cain International
• Seller: CIM Group
• Brokers: Jeff Davis, Scott Ellman, Alyssa Kidd & Phil Gheorghiu - Eastdil Secured

The deal involved significant players in the real estate market, including Cain International as the buyer and CIM Group as the seller. The brokers representing the transaction were Jeff Davis, Scott Ellman, Alyssa Kidd, and Phil Gheorghiu from Eastdil Secured.