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New York & Tri-State  + Downtown New York  + Hospitality  | 
Navika Group of Companies and Blue Sky Hospitality Solutions have acquired the Andaz Wall Street hotel.

Navika Group, Blue Sky Acquire Wall Street Hotel

Navika Group of Companies and Blue Sky Hospitality Solutions (BSHS) Management Company have acquired Andaz Wall Street, which has rebranded to Hyatt Centric Wall Street New York. The seller was the Hakimian Organization, and the 253-key property at 75 Wall St. traded for a reported $84.7 million. 

The hotel plans to resume operations on Jan. 26. The property’s guestrooms were modernized in 2019, and the lobby was recently enhanced to reflect the contemporary design of the Hyatt Centric brand. Navika plans to invest approximately $5 million to further reimagine the property over the next several years. 

“The competitive advantages provided by Hyatt Centric Wall Street New York, our first hotel in New York City, make it an ideal addition to our current portfolio of 53 owned and operated hotels throughout the U.S.,” said Ernie Catanzaro, EVP with oversight of the management team, BSHS. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition