Slate Property Group Acquires Hampton Inn In Financial District For $24.1M

Located in the Financial District of Manhattan, the Hampton Inn Manhattan-Seaport-Financial District hotel at 320 Pearl Street has been sold. The property was acquired by Slate Property Group, operating through the entity 320 Pearl Street Propco LLC, for a total sale price of $24,125,000. The hotel spans an area of 27,356 square feet, resulting in a price per square foot of $882.

Summary of transation details

• Property Type: Hotel
• Transaction Amount: $24,125,000
• Address: 320 Pearl Street
• Market: Financial District
• Buyer: David Schwartz - Slate Property Group
• Seller: Ashish Parikh - Hersha Hospitality Trust & KSL Capital Partners
• Square Footage: 27,356
• Price Per Square Foot: $882

The sale of the Hampton Inn Manhattan-Seaport-Financial District hotel was facilitated by Ashish Parikh, representing sellers Hersha Hospitality Trust and KSL Capital Partners, and David Schwartz, who represented the buyer Slate Property Group. The transaction was completed on December 14, 2023.

Note: This acquisition provides Slate Property Group with ownership of the Hampton Inn Manhattan-Seaport-Financial District hotel at 320 Pearl Street, as they expand their portfolio in the Financial District of Manhattan.