Ferro and Scarborough of Prudential Blake Commercial broker $4.5 million for 39-room Adelphi Hotel

Richard Ferro, principal broker and Miriam Scarborough, associate broker of Prudential Blake Commercial Realtors were the brokers of record on the sale of the Adelphi Hotel, 361/365 Broadway. The purchase price was $4.5 million. The 39-room Victorian Hotel was built in 1877. The purchaser owns numerouse real estate holding sin the area and their plans including converting the property into a class A hotel, complete with amenities.