The Hakimian Organization has parted ways with its Financial District hotel, the Andaz Wall Street, months after its lender, Annaly Commercial Real Estate Group, attempted to foreclose on the building when a $55 million loan went unpaid.
The real estate development firm sold the hotel portion of 75 Wall St., which has condos above, to Blue Sky Hospitality for $84.7 million, property records show, a far cry from the $125 million the company was seeking in March 2020.
Hakimian purchased the property from JPMorgan Chase for $185 million in 2006, when it was an office building. The firm began a three-year redevelopment project to convert it to a
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