Case Study: a national private equity fund boosts asset value and saleability with Lee & Associates

National Private Equity Fund unlocks $1M in added income with Lee & Associates

The client, a national private equity fund, faced a challenge with the disposition of The McCarren Hotel and Pool, an independent lifestyle hotel in Brooklyn. Despite its excellent location, the property's food and beverage program was losing a significant amount of money and past attempts to efficiently monetize its amenity space had failed. Lee & Associates was engaged to provide seller representation for the unique asset.

Lee & Associates performed a complete analysis of the property and identified that both the food and beverage space and the on-site parking were underutilized. Their solution was to formulate a business plan that included converting some parking space to expand the food and beverage concept, generating nearly $1,000,000 in additional proforma income. By conveying this creative value-add prospectus to the market, Lee & Associates created a competitive bidding environment and ultimately sold the property for $22,000,000 to a local investment group.