New York – Full-service advisory firm Besen Partners has announced that it has been retained by Salusbury & Co. to assist in the launch of a mixed-use boutique development project. Besen will assist the Salusbury team in identifying a site for development, capital placement, sales, and marketing, as well as providing general operational and structuring advisory work.
“Our reorganization was based on the ability to serve the entirety of our clients’ real estate needs,” said Daniel Steinberg, chief investment officer at Besen Partners. “This project exemplifies that goal.”
“Besen was uniquely qualified to assist us in launching this creative real estate project,” said Daria Salusbury, founder and CEO of Salusbury & Co. “Our New York location will be the first of what will become a new, global hospitality brand.”
Besen has been involved with noteworthy boutique hospitality developments. The investment sales team sold the Covenant House site at Ninth Avenue and 17th Street to Hampshire Hotels (now The Dream Hotel Group), who created the Dream Downtown there.
Besen was also behind the sale and subsequent development of Hyatt’s first Andaz hotel located at 485 Fifth Avenue, once known as the Tommy Hilfiger building. What would become known as the Sanctuary and Night hotel properties in Times Square were also sold by Besen, amongst various other operating hotels throughout New York City.
“We are pleased to deploy our team on this innovative, multifaceted project, particularly on site selection,” stated Ron Cohen, chief sales officer for Besen.