Marcus & Millichap Brokers Honored by Real Estate Board for Bringing New York’s Martinique Hotel Back to Life
May 23 2022 - 6:46PM
Business Wire
Marcus & Millichap (NYSE:MMI), a leading commercial real
estate brokerage firm specializing in investment sales, financing,
research and advisory services, announced today that Eric Anton and
Nelson Lee were awarded the Real Estate Board of New York’s (REBNY)
“Most Ingenious Deal of the Year” top honor for the sale of the
leasehold interest at the Martinique Hotel in New York City. This
was the 78th installment of this prestigious industry award.
“Since December 2020, our team worked tirelessly to overcome
multiple hurdles during the sales process,” said Anton. “The
COVID-19 pandemic initially wreaked havoc on the hospitality
industry in New York City, causing countless established hotels and
retail properties to close shop, including Martinique New York,
which filed for bankruptcy in 2020. We were proud to facilitate the
incredible revitalization project for one of New York’s oldest
operating hotels.”
Marcus & Millichap’s Anton, Lee, and their team were hired
by the hotel’s owners, Herald Hotel Associates, LP, a private, New
York-based, family-run company to sell the property. Anton secured
the buyer for the hotel, Burnett Equities, based in Oklahoma City,
who purchased the hotel for $55.5 million. In addition, Jordan Ray,
Matthew Polci, Steven Buchwald, and Lexington Henn of Marcus &
Millichap’s IPA division secured the acquisition financing.
“The Martinique New York will be at the forefront of the
hospitality industry for years to come,” said Lee. “We are grateful
that our hard work is recognized by the Real Estate Board of New
York as we hope to serve as a benchmark for our firm’s ongoing
mission to provide clients opportunities to create and sustain
generational wealth through commercial real estate
investments.”
About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm
specializing in commercial real estate investment sales, financing,
research and advisory services with offices throughout the United
States and Canada. As of December 31, 2021, the company had 1,994
investment sales and financing professionals in 82 offices who
provide investment brokerage and financing services to sellers and
buyers of commercial real estate. The company also offers market
research, consulting and advisory services to clients. Marcus &
Millichap closed 13,255 transactions in 2021, with a sales volume
of approximately $84.4 billion. For additional information, please
visit www.MarcusMillichap.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220523006028/en/
Gina Relva, VP of Public Relations
Gina.Relva@marcusmillichap.com
Marcus and Millichap (NYSE:MMI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Marcus and Millichap (NYSE:MMI)
Historical Stock Chart
From Jul 2023 to Jul 2024