The Mondrian in the SoHo neighborhood of Manhattan has been sold to New York real-estate moguls Rotem Rosen and Alex Sapir, in partnership with Buddha Bar founder/owner Gerard Guez, for $205 million, The New York Post reports.
The partners bought the hotel from a financial institution that foreclosed on the boutique hotel, which had been operated by Morgans Hotel Group.
The hotel will remain a boutique hotel, but will no longer affiliate with Morgans or under under the Mondrian name. As Hotel Chatter opines, the hotel will more than likely become the Buddhar Bar and Hotel New York. Guez already operates three Buddhar Bar and Hotels in Paris, Prague and Budapest.
The hotel has 270 rooms.