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The real estate company that launched earlier this year is building a 460-unit residential building at 241 W. 28th St.

The Cushman & Wakefield team of Doug Harmon, Adam Spies and Kevin Donner will bring the property to market in early 2019.

Anytime Fitness notes that targeted markets throughout the state include Auburn, Birmingham, Huntsville, Mobile, Montgomery, and Tuscaloosa to name a few.

The deal for the 127-room luxury hotel calculated out to approximately $421,000 per key. The transaction marks Xenia's fourth luxury hotel property acquisition in 2018 and is the company's 41st hotel property in its portfolio.

Despite the opposition from Albert Ratner, Forest City shareholders approved the transaction last month.

"The assets serve as strong additions to our growing portfolio," says David Elkouby, president, American Equity Partners.

The building is presently divided into three units that are leased to two tenants, and a portion of the site is also leased to Omnipoint for the location of a cell tower.

"Demand for small, Class A warehouse spaces near New York City far exceeds the supply," says Sitex's Blake Chroman.