The property at 135 E. Houston St., at the southeast corner of Forsyth Street and East Houston Street, was only on the market for one month before Gemini Real Estate Advisors LLC and 16 other tenant-in-common investors purchased the property from Madhusudan Patni of Houston Lodging LLC. Gemini, a firm specializing in the sponsorship of 1031 properties, reports that this sale was the first securitized tenant-in-common deal completed in Manhattan. The hotel sold for $13.75 million, or about $298,900 per room.