#United States #New York #Leyad #Ink48 Hotel #Capstone Equities

Leyad and Capstone Equities Create Excitement with NYC Hotel Acquisition

In a significant move in the real estate sector, Canadian investment firm Leyad has announced its acquisition of the prestigious Ink48 Hotel located in New York City’s vibrant Hell's Kitchen neighborhood. This marks a pivotal moment for Leyad as it represents both its inaugural venture into the competitive New York City market and its second hotel acquisition to date. The acquisition was completed in partnership with Capstone Equities, a prominent private equity firm based in New York City, reflecting a 50/50 joint venture.

Henry Zavriyev, the CEO of Leyad, expressed his enthusiasm for this milestone acquisition. He emphasized that the purchase of Ink48 Hotel is a strategic advancement in Leyad’s mission to expand its footprint within prime urban markets. “New York City’s unparalleled global influence and its dynamic tourism and business environment make it an ideal addition to our growing portfolio,” Zavriyev stated. He further noted that the expertise of Capstone Equities will enhance the opportunity to revitalize this unique property.

The Ink48 Hotel itself boasts 226 rooms and is situated in one of Manhattan’s most energetic districts. The acquisition price stood at $275,000 per room key, making it one of the lowest transaction valuations for a renovated hotel in Manhattan in recent years. Zavriyev articulated Leyad’s strategy to capitalize on the resurgence of the New York City hospitality sector as tourism begins to flourish post-pandemic. Moreover, Leyad is actively looking for further distressed hospitality opportunities in light of current market trends.

The Strategic Partnership

The collaboration with Capstone Equities signifies a strategic alignment between two significant players in the real estate market. Capstone Equities has an impressive track record, having acquired properties valued at over $2 billion and securing more than $1 billion in non-performing loans within the last decade, which speaks to their efficacy in navigating complex real estate transactions.

Leyad's commitment to crafting vibrant and sustainable communities in Canada informs its approach to new acquisitions. Having developed a diverse portfolio comprising retail, commercial, and residential properties, Leyad seeks to bring significant value to its stakeholders and enhance community living.

This acquisition not only signifies Leyad’s growth strategy but also highlights the ongoing recovery and resilience seen within the hospitality sector in New York City. With tourism on an upward trajectory, strategic investments such as Leyad’s in partnership with Capstone Equities are expected to play a crucial role in revitalizing urban hotel markets.

As Leyad moves forward, the company's goal remains clear: to leverage its partnership with Capstone Equities to maximize the potential of the Ink48 Hotel and explore additional opportunities within New York City's thriving real estate landscape. This initiative reaffirms an optimistic outlook for the hospitality sector as stakeholders eagerly anticipate what the future holds.

The news of Leyad's acquisition comes as a breath of fresh air for the New York City real estate market, with many hoping this marks the beginning of a renaissance in the hospitality industry. Industry experts believe that with the ideal combination of strategic investment and location, the Ink48 Hotel has the potential to become a sought-after destination in the heart of Manhattan.

Conclusion

Leyad’s strategic acquisition of the Ink48 Hotel in collaboration with Capstone Equities exemplifies a significant investment in one of the world's most recognized cities. As both firms embark on this journey together, the synergy between their expertise and experience stands to redefine the landscape of New York City’s hospitality market. With a focus on innovation and growth, Leyad is poised to make a lasting impact in this vibrant urban sector.