NEW YORK—Brack Capital Real Estate (BCRE), a global real estate investment and development company, announced today that The James New York was sold for approximately $85 million. Operations will remain unchanged as Denihan Hospitality Group will carry on management, along with chef David Burke remaining to produce the food and beverage menu.
“We were always incredibly confident in the potential presented in this well-situated location for a one-of-a-kind property and are pleased to see this hotel not only meet our goals, but exceed expectations. This sale offers BCRE a strategic opportunity to continue applying our vision, and building our presence in today’s thriving marketplace,” said Issac Hera, chief executive officer of Brack Capital Real Estate-USA. “BCRE has been honored to work closely with such an ingenious and forward-thinking company as Denihan, and we are confident The James New York will continue to see success under the new ownership.”
The James was designed by ODA in collaboration with Perkins Eastman and Thomas Schlesser. The property features restaurants David Burke Kitchen and the Garden at David Burke, a coveted rooftop lounge, called Jimmy, a private pool with cabanas, and a bar with both indoor and outdoor seating. The boutique hotel also offers a diverse collection of artwork from local and international artists.
Accommodations at The James New York include corner rooms with panoramic city views, one-bedroom suites, and a penthouse loft on the 15th floor. Every guestroom includes reclaimed materials.