Real Estate

87 Chambers Sells--Will It Become Hotel?

by Tom Acitelli  |  October 25, 2007
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The five-story building at 87 Chambers Street has sold for $3.2 million, according to brokerage Cushman & Wakefield.

Bloomberg News (via The Sun) reported earlier this month that Israel's biggest real estate company had bought the building with the intention of turning it into a 100-room boutique hotel. That report also said the sales price was $23 million, though it turned out to be considerably lower.

The seller was an LLC and the buyers were Aaron Vaknin and Industrial Buildings Corp.--according to Bloomberg, Israel's biggest real estate company.

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