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Gemini Puts Up Four Manhattan Hotels

NEW YORK CITY—After filing a Chapter 11 petition for the quadruple assets, the firm is poised to sell properties in Greenwich Village, South Street Seaport and Midtown.

By Rayna Katz | Updated on September 11, 2015

NEW YORK CITY—Gemini Real Estate Advisors has filed a Chapter 11 reorganization petition with the US Bankruptcy Court—in the Southern District of New York—on behalf of four of its investment vehicles. The assets, all hotels, are the Jade Hotel Greenwich Village, Wyndham Garden, Best Western Seaport and the Bryant Park development site. The four properties are located at 52 W.13th St., 37 W. 24th St., 33 Peck Slip, and 36 W. 38th St., respectively.

While the firm can’t predict what prices the hotels will go for, the following bids are in for the buildings: Jade Hotel, $78 million; Wyndham Garden, $57 million; Best Western Seaport, approximately $37 million and the Bryant Park development site, around $26 million.

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