MCSAM HOTEL GROUP ACQUIRES 6 WATER STREET

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NEW YORK CITY — McSam Hotel Group has acquired 6 Water St. in Manhattan, New York City for $56 million. The 8,300-square-foot site fronts three streets and will allow for 125,000 buildable square feet. The buyer plans to develop a 30- to 40-story boutique hotel at the site, which is also known as 32-38 Pearl St. Peter Hauspurg, Alan Miller, Jeffrey Troy, David Johnson and Ronda Rogovin of Eastern Consolidated represented the seller, Water & Pearl Land LLC/Water & Pearl Partners LLC, and Miller and Johnson procured the buyer in the transaction.

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