313 Powell Holdings LLC Acquires 100-Unit Hotel In Brownsville, Brooklyn For $23.2M

313 Powell Street, located in Brownsville, Brooklyn, has been sold in a transaction that closed on December 19, 2023. The property, a hotel building, was acquired by 313 Powell Holdings LLC for a sale price of $23,250,000. With a total area of 52,431 square feet, the price per square foot (PPSF) amounts to $443. The deal also included the transfer of 100 keys, resulting in a price per key (PPK) of $232,500.

Summary of Transaction Details

• Property Type: Hotel
• Transaction Amount: $23,250,000
• Address: 313 Powell Street, Brownsville, Brooklyn

The buyer, 313 Powell Holdings LLC, an anonymous entity, completed the transaction with the seller, Joseph Brunner representing Bruman Realty. The sale highlights the ongoing investment activity in the Brownsville market, showcasing the desirability of hotel assets in the area.