Korman Communities Acquires The Smyth Hotel In Manhattan For $72.2M

The Smyth Hotel, located at 85 W Broadway in New York City, has been sold in a closed transaction on November 30, 2017. The property is a hotel and was purchased for a price of $72,200,000. The seller of the hotel was Walton Street Capital, while the buyer was Korman Communities. The deal was facilitated by Prince Realty Advisors, with Alexandre Vial and Kyle Stein representing the parties involved.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $72,200,000
• Address: 85 W Broadway, New York, NY
• Market: Manhattan
• Seller: Walton Street Capital
• Buyer: Korman Communities
• Broker: Alexandre Vial - Prince Realty Advisors
• Broker: Kyle Stein - Prince Realty Advisors

The acquisition of The Smyth Hotel in Manhattan was successfully completed with the involvement of Prince Realty Advisors. Alexandre Vial and Kyle Stein acted as brokers in the transaction, representing the seller, Walton Street Capital, and the buyer, Korman Communities. This deal demonstrates the continued activity and growth in the hotel market in New York City.