The James Hotel in New York Sold

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Brack Capital Real Estate, a global real estate investment and development company, has sold The James New York for about $85 million. The buyer was not disclosed, according to the Commercial Property Executive.

The 114-room luxury hotel in New York's SOHO neighborhood will still be managed by Denihan Hospitality Group.

The hotel was developed in 2010 and designed by ODA, Perkins Eastman, and Thomas Schlesser. It includes restaurants, a rooftop lounge with skyline views, a private pool with cabanas and a bar with indoor and outdoor seating, according to the paper.

"This sale offers BCRE an opportunity to continue building our presence in today's thriving marketplace," said Issac Hera, CEO of Brack Capital Real Estate-USA, the property's former owner.