New York City-based multifamily developer Slate Property Group has bought Radisson Hotel New York Wall Street for $94.5 million from McSam Hotel Group.
The 289-room hotel in New York City’s financial district was built in 1902. In 2006, BNY Mellon sold the asset to Rockwood Capital for $92.1 million. McSam bought the property in 2017 from Rockwood Capital for $95 million.
The 20-story property was operating as a homeless shelter during the pandemic and has been the subject of controversy when reports surfaced that it was housing migrants seeking asylum.