News provided by Eastdil Secured and A&G Real Estate Partners
147-room luxury lifestyle hotel in the heart of vibrant Brooklyn neighborhood presents rare acquisition opportunity
MELVILLE, N.Y., Sept. 7, 2022 /PRNewswire/ -- Global real estate investment bank Eastdil Secured, L.L.C., and national advisory firm A&G Real Estate Partners have been engaged as exclusive advisors to market The Williamsburg Hotel, a 147-room luxury lifestyle hotel in the heart of Brooklyn's thriving Williamsburg neighborhood.
Built in 2017, the property features modern, luxurious amenities, floor-to-ceiling windows with sweeping views of the Manhattan skyline, and destination dining, including The Williamsburg Restaurant and popular Watertower Bar. The hotel boasts a rooftop bar and pool lounge that has emerged as a Brooklyn staple, offering an amenity package that caters to hotel guests and locals alike, with rooftop summer events, rotating DJs, and curated year-round music events.
The hotel also frequently serves as the destination of choice for major gatherings and events, with multiple spaces centered around a 6,550-square-foot ballroom supported by adjacent, well-appointed breakout space.
"Located at the epicenter of a rapidly growing retail, culinary, and nightlife destination in New York City, the Williamsburg Hotel is ideally positioned to capture high-end leisure clientele, growing corporate needs, and local staycation demand," said Andy Wimsatt, Managing Director at Eastdil Secured. "This is a one-of-a-kind investment opportunity in a modern boutique hotel with significant performance momentum."
"In less than five years, The Williamsburg Hotel has established itself as an important part of the Brooklyn skyline and a destination location for high-end, luxury-minded guests and locals," said Emilio Amendola, Co-President of A&G Real Estate Partners. "The property has tremendous upside potential, with accelerating performance and several value-creation opportunities in the near-term that will allow The Williamsburg Hotel to continue to stand out in a growing luxury submarket."
The fully independent hotel is located at 96 Wythe Ave., Brooklyn, NY. The property is being sold subject to the United States Bankruptcy Court, Southern District of New York, Case Number 21-22108-shl.
For more information, visit www.wbk22.com or contact the individuals listed below.
A&G delivers strategies designed to yield the highest-possible value for clients' real estate. Key areas of expertise include real estate sales, occupancy-cost reductions, lease terminations, real estate due diligence, valuations, and facilitation of growth opportunities. Relying on its marketing knowledge, reputation and advanced technology, A&G has advised the nation's most prominent corporations in both healthy and distressed situations. The firm has sold properties and leases totaling more than $12 billion and achieved nearly $8 billion in rent-reduction and occupancy-cost savings on behalf of clients in every real estate sector. Global M&A Network has named A&G "Real Estate Restructuring Firm of the Year" for the past three years running. Founded in 2012, A&G is headquartered in Melville, N.Y. For more information, please visit: http://www.agrep.com.
As the most relevant and trusted advisor in the commercial real estate capital markets, Eastdil Secured creates value for clients through creative, actionable ideas and flawless execution. With an unrivaled combination of capital markets expertise and in-depth understanding of real estate fundamentals, Eastdil Secured delivers best-in-class advice on mergers and acquisitions, sales, joint ventures, debt placement, structured credit and loan sales to investors around the world. Headquartered in New York, Eastdil Secured has a broad global footprint to support clients with offices across the United States in Atlanta, Boston, Charlotte, Chicago, Dallas, Los Angeles, Miami, Orange County, San Francisco, Seattle, Silicon Valley and Washington, D.C., and internationally in Dubai, Dublin, Frankfurt, London, Milan, Paris, Hong Kong and Tokyo. For more information on Eastdil Secured, the global real estate investment bank, please visit https://www.eastdilsecured.com.
A&G Real Estate Partners
Jon Keehner / Jack Kelleher / Erik Carlson
Joele Frank, Wilkinson Brimmer Katcher
SOURCE Eastdil Secured and A&G Real Estate Partners