Real estate development and investment firm Quadrum Development Corp. won an auction for Brooklyn’s boutique Williamsburg Hotel for $96 million, a bankruptcy trustee said.
A hearing to consider the sale of the 10-story, 147-room hotel is scheduled for Jan. 17 in the White Plains, New York, bankruptcy court. Quadrum also holds interests in three boutique hotels in Manhattan under the “Arlo” brand name, according to its website.
The sale funds would be used to pay back creditors, including secured lender Benefit Street Partners Realty Operating Partnership LP.
Hotel owner 96 Wythe Acquisition LLC filed for Chapter 11 in February 2021 ...
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