News:
Brokerage
Posted: August 20, 2019
Wason Associates negotiates sale of 168-room hotel
Saratoga Springs, NY Wason Associates Hospitality Real Estate Brokerage Group negotiated the sale of the 168-room Holiday Inn located in the historic downtown district along Broadway and Congress Park.
The transaction was negotiated by Wason Associates on behalf of the seller, Saratoga Pelican Associates, LLC., a group of local citizens who operated the hotel for over 50 years. The buyer, JLK Global Fund International, is a Canadian investment group with a portfolio of hospitality properties. JLK has contracted New Castle Hotels and Resorts (NCH) to assume management responsibilities.
“It was a pleasure to facilitate the successful sale of the Saratoga Springs Holiday Inn to its new owners,” said Joe Cardillo, associate broker of Wason Associates. “We enjoy working with skilled individuals and companies to enrich the growing hospitality market in the capital region of New York. Companies determined to invest in upholding the tradition of local businesses are always a delight to work with.”
Julian Buffam, a partner at NCH said of the deal, “We look forward to embracing the close relationship with the community while enhancing the guest experience and overall hotel performance with proven operational strategies and further capital improvements.”
Tags:
Brokerage
MORE FROM Brokerage
Adler of Rand Commercial brokers $2.3 million sale of retail assemblage in Yonkers
Yonkers, NY Rand Commercial negotiated the June 12, 2026 sale of an 11,000 s/f retail assemblage at 245, 247, 251, and 253 South Bdwy. for $2.3 million to an owner-user.
Columns and Thought Leadership
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
