Republic and Capstone Acquire Smyth Tribeca Hotel in $41M Deal
Republic and Capstone Acquire Smyth Tribeca Hotel in $41M Deal
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August 6, 2025 | New York City
Republic Investment Company and Capstone Equities have jointly acquired the 100-room Smyth Tribeca hotel for $41 million, a steep discount from its previous $72.2 million sale price in 2017. The sellers include Korman Communities, which had operated the property since purchasing it from Walton Street Capital and Tribeca Associates. Residential condo units on the upper floors were not included in the deal.
The buyers plan to undertake a luxury renovation of the property, though specific costs and plans are yet to be disclosed. According to Capstone’s Joshua Zamir, Tribeca remains underserved in terms of high-end hotels, and the location's proximity to the Financial District and World Financial Center offers strong upside. Rebel Hotel Company will manage the revamped hotel once complete.
The Smyth hotel, which opened in 2009, gained cultural popularity after hosting Kim and Kourtney Kardashian during their 2012 reality show filming. It features approximately 7,000 square feet of indoor and outdoor event space across 13 floors and more than 71,000 square feet in total.
The acquisition is part of a growing trend in Tribeca, where developers are actively investing in luxury properties. Other notable nearby projects include Broad Street Development and TPG Angelo Gordon’s planned conversion of a 10-story storage facility into 18 upscale condos, and Urban Capital Group’s loft-style redevelopment on Walker Street.
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