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Acquisitions

Brookfield buys 652 11th Avenue

652 11th Avenue (Credit: Leonardo)

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.
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