Press Releases
Marcus & Millichap Brokers $5.7M Sale of Charleston Grand Hotel in North Charleston, South Carolina
September 23, 2026
NORTH CHARLESTON, S.C, Sept. 23, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the $5.7 million sale of Charleston Grand Hotel, a 128-room hotel in North Charleston, South Carolina. The property sold for $44,531 per room.
“This transaction reflects a growing trend of repurposing distressed commercial properties into attainable housing, providing communities with a faster near-term solution to housing needs,” said Tulsee Nathu, senior director investments. “With support from Charleston County and private investment, the conversion will bring new housing to the area while giving an existing property a new use.”
Nathu, in Marcus & Millichap’s Palo Alto office, in association with Benjamin Yelm, Marcus & Millichap’s South Carolina broker of record, represented the buyer, Brick Lane. The seller was a New Jersey-based seller.
Built in 1977, the 111,078-square-foot Charleston Grand Hotel is situated on 2.55 acres and consists of 128 rooms. Charleston County approved a $1.6 million grant in support of the property’s conversion to attainable housing. Renovations are already underway.
“This transaction reflects a growing trend of repurposing distressed commercial properties into attainable housing, providing communities with a faster near-term solution to housing needs,” said Tulsee Nathu, senior director investments. “With support from Charleston County and private investment, the conversion will bring new housing to the area while giving an existing property a new use.”
Nathu, in Marcus & Millichap’s Palo Alto office, in association with Benjamin Yelm, Marcus & Millichap’s South Carolina broker of record, represented the buyer, Brick Lane. The seller was a New Jersey-based seller.
Built in 1977, the 111,078-square-foot Charleston Grand Hotel is situated on 2.55 acres and consists of 128 rooms. Charleston County approved a $1.6 million grant in support of the property’s conversion to attainable housing. Renovations are already underway.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
