Watermark Capital sells Holiday Inn in Chelsea for $80 million – Robert Khodadadian

Watermark Capital has found a taker for the struggling Holiday Inn in Chelsea. Two Kings Real Estate bought the 226-key hotel from the Chicago-based investment firm for $80.3 million, according to city property records filed Tuesday. Two Kings principal Christopher Wang signed for the buyer. Brendan Medzigian, Watermark’s head of transactions, signed for the seller. Two Kings acquired the property at 125 West 26th Street for 30 percent less than the $113 million Watermark paid

Robert Khodadadian is an experienced commercial real estate broker in New York City and founder of Skyline Properties. Skyline Properties specializes in off-market or “quiet” real estate transactions, allowing buyers and seller to bypass traditional avenues and extraneous expenses of high-profile listings in the New York City area. Commercial Real Estate, Home Page, Chelsea, Hotel Market, Hotels, Investment Sales, Manhattan, Manhattan Sales The Real Deal New York Read More