NEW YORK—Brack Capital Real Estate (BCRE) has sold The James New York, a boutiquelocated at 27 Grand Street in SoHo, for approximately $85 million. Under new ownership, Denihan Hospitality Group will continue to manage the property.
“We were always incredibly confident in the potential presented in this well-situated location for a one-of-a-kind property and are pleased to see this hotel not only meet our goals, but exceed expectations,” said Issac Hera, CEO of Brack Capital Real Estate-USA. “This sale offers BCRE a strategic opportunity to continue applying our vision.”
Completed by BCRE in 2010, The James was designed by ODA in collaboration with Perkins Eastman and Thomas Schlesser. The property includes a rooftop lounge, private pool and bar with indoor and outdoor seating.
The Jamesincludes one-bedroom suites and a penthouse loft on its 15th floor.