Issac Hera Of Yellowstone Real Estate Investments Acquires Midtown Manhattan Hotel For $140M

The transaction involves the sale of the abandoned 697-unit Maxwell hotel located at 541 Lexington Avenue in Midtown Manhattan. The asset type is categorized as a hotel, and it was sold for a total price of $140,000,000. The price per unit (PPU) was determined to be approximately $200,861.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $140,000,000
• Units: 697
• Location: 541 Lexington Avenue, Midtown Manhattan
• Buyer: Issac Hera - Yellowstone Real Estate Investments
• Seller: Daniel M. Neidich - Dune Real Estate Partners & Aynsley Capital
• Market: Midtown Manhattan

Issac Hera represented Yellowstone Real Estate Investments in the acquisition, which occurred through a foreclosure auction. Daniel M. Neidich represented Dune Real Estate Partners and Aynsley Capital as the seller in this transaction. In the auction, Yellowstone achieved victory with a bid of $140 million, despite a judgment of $233.6 million regarding the property.