Blackstone pays $150M to JD Carlisle, DLJ for hotel in NoMad

Blackstone Group through the entity 835 6 Hotel Owner LLC paid $150 million to JD Carlisle and DLJ Real Estate Capital Partners through the entity 835 6th Ave Master LP for the 292-unit Kimpton Eventi Hotel at 835 Sixth Avenue in NoMad, Manhattan. The expected use is cash flowing.

Bloomberg reported in January that the sale price was $175 million. It’s unclear the reason for the discrepancy, however sometimes with hotels there is a full price that includes the operating hotel and a lower price for just the real estate.
The deal closed on May 1, 2025 and was recorded on May 6, 2025. The property has 333,436 square feet of built space according to a PincusCo analysis of city data. The $150 million sale price per built square foot is $450 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for JD Carlisle and DLJ Real Estate Capital Partners was Neal Peskind . The signatory for Blackstone Group was Brian Lin . The contract date was January 17, 2025. Blackstone bought the five tax lots that make up the building.

Prior sales and revenue

Prior to this transaction, PincusCo has records that the buyer Blackstone Group purchased 27 properties in 10 transactions for a total of $649.9 million and sold 33 properties in three transactions for a total of $574.3 million over the past 24 months.
The seller JD Carlisle had not purchased any other properties and had not sold any properties over the same time period.

The property

The hotel condo in NoMad has 187,489 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 187,489 square feet. The city-designated market value for the property in 2022 is $100.1 million. The most recent loan totaled $140 million and was provided by LoanCore Capital on October 23, 2019.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

For the tax lot building, it received its initial certificate of occupancy on February 6, 2018. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In NoMad, The majority, or 66 percent of the 13 million square feet of commercial built space are office buildings, with hotel buildings next occupying 15 percent of the space. In sales, NoMad has 1.2 times the average sales volume among other neighborhoods with $315.3 million in sales volume in the last two years and is the 25th highest in Manhattan. For development, NoMad has 2 times the average amount of major developments relative to other neighborhoods and is the 18th highest in Manhattan. It had 2.4 million square feet of commercial and multi-family construction under development in the last two years, which represents 18 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 10 of the 17 commercial properties representing 640,254 square feet of the 898,617 square feet. The largest owner is Bernstein Real Estate, followed by Ilya Mikhailov and then Feiner Grant Strategies.
On the tax block, there was one new building construction project filed totaling 135,003 square feet. It is a 135,003 square-foot storage (S-1) building submitted by David Companies and filed by Stephen Skolas with plans filed July 9, 2020 and permitted July 13, 2021.

The majority, or 86 percent of the 898,617 square feet of built space are office buildings, with specialty buildings next occupying 8 percent of the space.

The seller

The PincusCo database currently indicates that Dlj Real Estate Capital Partners owned at least six commercial properties with 93 residential units in New York City with 139,907 square feet and a city-determined market value of $21.5 million. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 56 percent of the 139,907 square feet of built space are elevator properties, with industrial properties next occupying 32 percent of the space. The bulk, or 82 percent of the built space, is in Brooklyn, with Manhattan next at 18 percent of the space.

The buyer

The PincusCo database currently indicates that Blackstone Group owned at least 44 commercial properties with 14,164 residential units in New York City with 18,789,463 square feet and a city-determined market value of $3.6 billion. (Market value is typically about 50% of actual value.) The portfolio has $2.3 billion in debt, with top three lenders as Morgan Stanley, NYC Housing Development Corporation, and Wells Fargo respectively. Within the portfolio, the bulk, or 81 percent of the 18,789,463 square feet of built space are elevator properties, with office properties next occupying 13 percent of the space. The bulk, or 86 percent of the built space, is in Manhattan, with Queens next at 11 percent of the space.

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