Eastdil Secured and A&G Real Estate Partners have facilitated the sale of William Vale Hotel, a luxury property in Williamsburg, a neighbourhood in the New York City borough of Brooklyn.
A&G Real Estate Partners is an advisory company while Eastdil Secured is a global real estate investment bank.
The sale, which has been finalised for $177m, follows a three-year ownership restructuring and litigation process.
EOS Hospitality, a New York-based hospitality company, emerged as the stalking horse bidder and completed the purchase of the luxury lifestyle hotel in June 2024.
The deal received approval from the US Bankruptcy Court for the Southern District of New York on 29 May 2024.
The transaction, which was overseen by All Year Holdings chief restructuring officer Asaf Ravid, ensured the full payment of all outstanding secured bonds.
Built in 2016, William Vale Hotel, located at 111 N. 12th St. is said to be one of the four luxury hotels in Brooklyn.
This 183-key, 21-storey tower offers dining options Leuca and Westlight, which includes The Turf Club.
The property offers 7,300ft2 of indoor and outdoor function spaces.
These include the Vale Ballroom with a capacity of up to 320 guests, a 5,288ft² space on the terrace, and four small rooms, conference, and board rooms suitable for up to 150 guests.
Additional amenities provided at the property include a fitness centre, pool, spa, and more.
Eastdil Secured and A&G Real Estate Partners previously marketed the 147-room Williamsburg Hotel, which sold last year for a combined cash-and-debt price of $96m.
In March, Eastdil Secured alongside Morgan Stanley advised citizenM’s owners, including Dutch pension provider APG, Singaporean wealth fund GIC, and founder Rattan Chadha, regarding the company’s divestment plans.
