William Vale Hotel Sells for $177M in Bankruptcy Proceedings
Stalking horse bidder EOS Hospitality acquired the luxury 183-key hotel.
The luxury William Vale Hotel in Brooklyn’s Williamsburg neighborhood sold for $177 million in a bankruptcy sale to stalking horse bidder EOS Hospitality. The transaction, which closed earlier this week, was approved by the US Bankruptcy Court for the Southern District of New York on May 29 and resulted in full payment of all outstanding secured bonds.
The transaction followed a three-year ownership restructuring and litigation process led by Asaf Ravid, Chief Restructuring Officer of All Year Holdings. Eastdil Secured and advisory firm A&G Real Estate Partners marketed the 183-key, 21-story tower.
Located at at 111 N. 12th St., it is one of just four luxury hotels in Brooklyn.