IStar Acquires Boerum Hill Hotel On Bond Street For $45M

Located in Boerum Hill, the hotel property at 61 Bond Street was recently sold for $45,000,000. Spanning a total area of 165,534 square feet, the property was purchased by iStar, represented by Jay Sugarman. The seller, GFI Capital, was represented by Allen Gross. The hotel asset is characterized by its prime location in the Boerum Hill market.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $45,000,000
• Address: 61 Bond Street
• Market: Boerum Hill

Notable individuals involved in the deal include Jay Sugarman from iStar as the buyer's representative and Allen Gross from GFI Capital as the seller's representative. Their expertise and negotiation skills were integral to the successful completion of the transaction. It is worth mentioning that the price per square foot for this hotel property stands at $272.