Image of Investment Property

130 Cedar Street

Property Sq Ft: 111,600

Purchase Date: 2001

Purchase Price: $15 MM

Year Built: 2010

Client: Club Quarters

Tenantwise was retained by Club Quarters to provide strategic acquisition advice for 130 Cedar Street. Tenantwise acted for Club Quarters in the negotiations to procure the property, negotiate contract terms, perform due diligence, and assist with property level financing. As part of the acquisition, Tenantwise also negotiated with over a dozen tenants, from positions Tenantwise articulated within the leases, to force early vacations so that construction could commence on a hotel. Tenantwise was successful in compelling early withdrawals and construction had begun on its conversion until all work stopped abruptly on September 11, 2001. Tenantwise assisted in negotiations with Federal, State, and Municipal authorities as the building was rebuilt and eventually converted into a hotel.