Republic Investment Company And Capstone Equities Acquire Smyth Tribeca Hotel For $41M

The transaction involves the sale of Smyth Tribeca, a hotel situated at 85 West Broadway in the TriBeCa market of Manhattan. The property features a total of 72,000 square feet and comprises 100 keys, with a price set at $41,000,000. The price per square foot is calculated at $569, while the price per key stands at $410,000.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $41,000,000
• Address: 85 West Broadway
• Market: TriBeCa, Manhattan
• Square Footage: 72,000
• Price per Square Foot: $569
• Keys: 100
• Price per Key: $410,000
• Buyer: Republic Investment Company & Capstone Equities
• Seller: Vanbarton Group

Republic Investment Company and Capstone Equities have completed their purchase of the Smyth Tribeca, marking their seventh hotel acquisition in New York City. This acquisition adds to their portfolio which includes properties like The Renwick, Ink48, and Life Hotel New York. The representation for the buyer was managed by Evan Nehmadi, Aaron Nehmadi, and Josh Zamir.