Brookfield buys 652 11th Avenue

Brookfield Property Partners has acquired 652 11th Avenue from PGIM Real Estate for $82.7 million, according to NYC public records. The boutique hotel spans 153,363 square feet, and contains 222 rooms. 

• Acquisition financing: Brookfield secured a $67.5 million loan from United Overseas Bank to close the deal, CO noted.

• Worth Noting: The Hell’s Kitchen hotel is managed by Kimpton Hotels, and is located at the corner of West 48th Street. Rooms are priced $326 per night, and there’s also a popular rooftop bar, The Press Lounge.