Brooklyn’s William Vale Hotel finally may change hands

The tussle over the future of the iconic William Vale Hotel in Brooklyn, N.Y., appears at an end with a reported deal by a joint venture to buy its debt for $157 million with a 50% equity stake. The group led by health care executive Avi Philipson got the nod from the hotel’s All Year Holdings’ Israeli bondholders over Brooklyn landlord Zelig Weiss.