Assa Properties, owner of Cassa Hotel and Residences in Manhattan, New York, and its subsidiary, Waterscape Resorts, will sell the hotel portion of the property for about $130 million. The condominium portion of the building, valued at over $120 million, will remain in control of Assa. The proceeds from the sale will used to repay Assa Properties’ debt. The undisclosed buyer is represented by Allen Wu of Wu & Kao and Harvey Strickon of Paul Hastings, Janofsky & Walker.

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