Morris Oiring Acquires Holiday Inn Express Downtown Albany Hotel For $7.2M

The Holiday Inn Express Downtown Albany, located at 300 Broadway in Albany, has been sold for $7,200,000. The hotel spans a total of 72,648 square feet, with a price per square foot of $99. The transaction took place on 11/01/2023, making it a closed sale in the Albany market. The property features 135 keys, giving it a price per key of $53,333.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $7,200,000
• Address: 300 Broadway, Albany
• Market: Albany
• Square Footage: 72,648
• Price per Square Foot: $99
• Number of Keys: 135
• Price per Key: $53,333

Morris Oiring has acquired the Holiday Inn Express Downtown Albany from Gabe Rezende of Secured Debt Investment. The deal was facilitated by Sean Banilivy, Bennett Webster, Brent Clemens, and Omari Head of Paramount Lodging Advisors, who represented the buyer and seller in the transaction.