Vanbarton Group Acquires Hotel In Financial District From Prodigy Network & Shorewood Real Estate Group

Located at 84 William Street in the Financial District, this hotel property encompassing 122,984 square feet has been sold. The transaction took place on December 14, 2020, with a sale price of $73,453,037. The hotel consists of 137 units, resulting in a per unit price of $536,153. The previous sale of the property occurred in 2013 for $58 million.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $73,453,037
• Address: 84 William Street
• Market: Financial District
• Asset Type: Hotel
• Zoning: C5-5, LM

The buyer of the hotel property is Vanbarton Group, represented by Gary Tischler and Richard Coles. On the other hand, the seller consists of Prodigy Network and Shorewood Real Estate Group, with S. Lawrence Davis as their representative. The deal was facilitated by brokers Gary Phillips, Will Silverman, Steve Binswanger, Scott Ellman, and Jeff Organisciak from Eastdil Secured.