Foreclosed SoHo Mondrian sold for $205 million

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.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

The hotel has 270 rooms. 

Read more on

Suggested Articles

HVS Brokerage & Advisory, Milmark Hotel/Motel Investments and Marcus & Millichap arranged sales in Texas, Wisconsin and Florida.

Fosun is thought to be applying for an Atol licence as it plans to relaunch Thomas Cook as an online travel agent.

Marriott International is to open a 2,600-room Fairfield by Marriott property in Makkah in 2023.