Joshua Bird And Hawkins Way Capital Acquire Hotel At 99 Washington Street For $154.5M

The asset involved in this transaction is a hotel located at 99 Washington Street & 103 Washington Street in the New York City market. The sale price was $154,500,000, with the building encompassing a total square footage of 142,236. The property includes 492 keys and has a price per square foot of $1,086, and a price per key of $314,024.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $154,500,000
• Buyer: Joshua Bird & Hawkins Way Capital
• Debt Assumed: $137,000,000
• Square Footage: 142,236
• Keys: 492
• Price per Square Foot: $1,086
• Price per Key: $314,024

Hawkins Way Capital plans to reposition the former Holiday Inn in the Financial District in collaboration with FCL Management. The property had previously served as a migrant shelter until June and will be transformed into a mixed-use space that includes dining options, work areas, and a gym.