Vanbarton Group acquires FiDi hotel from Prodigy, Shorewood valued at $73.5M

Vanbarton Group through the entity EO 84 William II LLC acquired from Prodigy Network and Shorewood Real Estate Group’s 84 William Street Mezz LLC 84 William Street in Financial District valued at $73.5 million. The deal closed on November 20, 2020, and was recorded on December 14, 2020. The transaction consists of 1 parcel, including the tax class extended stay/suite: amenities similar to apt; typically charge weekly rates & less expensive than full-service hotel (HS) and containing 137 residential units. The property is 122,959 square feet. The parcel(s) have total development potential of 122,959 square feet.
The sale price per unit is $536,154.

Prodigy Network and Shorewood have sold other properties from their joint venture. The business collapse began before Covid and the troubles included the death of Prodigy’s CEO, Rodrigo Nino, earlier this year. Vanbarton acquired an interest in this property in 2019. The last time the property sold was October 22, 2013, for $58,000,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 112 residential (or hotel) units on August 8, 2012.
Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $6,250,000. Those filings sought to increase the number of residential units by 25 to 137 There were 8 renovation/alteration projects (A2) applied for with a total estimated value of $1,502,704.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link