Slate Property Group acquired the Radisson Hotel at 52 William Street in the Financial District for 95 m, purchasing it from McSam Hotel Group’s Sam Chang, who paid 94 m for it in 2017. The 20-story, 289-key hotel, once a pandemic-era homeless shelter, could be converted to residential use. Slate has explored hotel-to-housing conversions before, including a 300-unit affordable housing project at the JFK Hilton and a shuttered Hampton Inn in Manhattan. If Slate opts for shelter use, it might align with the city’s plan to utilize 14,000 hotel rooms for migrants through 2025.
Slate Property Group
