Fairstead Capital acquires 117 West 79th Street hotel

New York, NY Fairstead Capital, a real estate investor and asset manager specializing in New York City multifamily property, acquired 117 West 79th St., a Single Room Occupancy (SRO) hotel on the Upper West Side of Manhattan. The property is comprised of 108 total rooms. The deal was first brought to Fairstead’s attention on June 13th and closed on June 29th. Fairstead Capital is a real estate investor and asset manager specializing in New York City multifamily property. Fairstead owns and asset manages $2.5 billion of real estate, comprised of over 6,000 luxury, market-rate, work-force and affordable rental units on behalf of its principals and investors.