Ronald Burkle (Credit: Brad Tent)

Billionaire Ron Burkle, one of the largest creditors of Morgans Hotel Group, is off to a rough start in his legal fight with shareholders of the debt-burdened hospitality chain, the New York Post reported.

Delaware Chancery Court Judge Travis Laster has rejected a deal between Burkle and the company, which would have granted Burkle control over Morgans’ Delano South Beach hotel in Miami, among other assets, in exchange for his Yucaipa Companies waiving $113 million of debt and forfeiting millions in warrants and preferred stock. [more]

Morgans Hotel Group, the once wildly successful owner and manager of trendy hotels across the nation, including the Soho Mondrian at 9 Crosby Street, is now at the center of a heated conflict between the company’s largest creditor — billionaire Ron Burkle — and its largest shareholder, the Wall Street Journal reported. [more]

From left: 428 West 14th Street, Joe Sitt and Ron Burkle

A year-end deal for billionaire grocery magnate and newbie real estate investor Ron Burkle’s Scoop building has closed for $96.44 million, according to public records filed with the city yesterday.

The deal represents a $30 million mark up over what the California-based tycoon paid for the five-story, 61,000-square-foot building at 428 West 14th Street one year previously. Sources told The Real Deal that Burkle, who has an ownership interest in tenant Scoop, made the deal more attractive to Thor by modifying the terms of the retailer’s lease. Scoop extended its lease in one portion of the building and shortened it in another, the source said. [more]

From left: 430 West 14th Street, Joe Sitt of Thor Equities and Ron Burkle

Grocery/real estate/private equity tycoon Ron Burkle has flipped his Meatpacking District property — he owns a majority  interest in the building, which houses such retailers as Scoop boutique — for close to $100 million to Joe Sitt of Thor Equities, the New York Post reported.

Eastdil Secured’s Douglas Harmon, Adam Spies and Kevin Donner brokered the deal for the brick loft building at 430 West 14th Street, the Post said. Burkle bought it for $65 million last year, as previously reported. [more]

Ronald Burkle (photo credit: Brad Trent)

From the May issue: Ronald Burkle is known for many things: the billions he made in the grocery business, his now-sour relationship with former President Bill Clinton, even being the godfather to rapper P. Diddy’s children. But until recently, New York City real estate was not on that list. Indeed, Burkle — head of Los Angeles–based private equity firm Yucaipa — was focused more on investing in companies like Whole Foods and Barnes & Noble than on the Manhattan property market. [more]

From left: Midtown Equities' Joseph Cayre, billionaire Ron Burkle and Soho House in New York

[Updated at 10:40 a.m. with broker information] [Updated at 9:00 a.m. with comment from Burkle, Cayre] Billionaire Ron Burkle’s Yucaipa Companies and Joseph Cayre’s Midtown Equities have closed on their purchase of the Soho House, a hotel and social club at 29-35 Ninth Avenue which also houses popular restaurant Spice Market, Cayre said this evening while on a panel at a Young Jewish Professionals summit held at 7 World Trade Center and co-sponsored by The Real Deal. [more]

NoMad Hotel

Older office buildings are often finding new lives as hotels, the Wall Street Journal reported.

For instance, a dingy office building at 1170 Broadway, at 28th Street, will re-open next week as the NoMad Hotel, a 168-room lodge developed by Sydell Group, Ron Burkle and Square Mile Capital. The $100 million conversion includes a restaurant by Daniel Humm and Will Guidara of 11 Madison Park fame. [more]

From left: Nathaniel Christian, Ron Burkle and the Soho House

Real estate broker Nathaniel Christian sued Ron Burkle’s Yucaipa Companies seeking $22.8 million in New York state court yesterday, Law360 reported, alleging that he acted as the broker for Yucaipa’s purchase of a stake in Soho House but was never compensated.

Christian, principal of NCG Real Estate, claims he introduced Burkle to owners of the Soho House Group in 2006.   [more]

From left: Ron Burkle and 430 West 14th Street

Forty-eight days after closing on his $65 million purchase of 430 West 14th Street, billionaire investor Ron Burkle is looking to unload it for more than $100 million, according to the New York Post.

He chose Eastdil Secured’s Douglas Harmon, Adam Spies and Kevin Donner to market the 61,321-square-foot office building with 50 feet of frontage each on West 13th and West 14th streets, and 206 feet along Washington Street. [more]

Billionaire investor Ronald Burkle is making his first official foray into the New York City boutique hotel scene with a stake in the upcoming NoMad Hotel. The 168-room project, on the corner of Broadway and 28th Street, is scheduled to open during the first quarter of 2012 after several years of delays, with room rates starting at around $400 per night. According to the Wall Street Journal, Burkle, whose Yucaipa Cos. already owns a 30 percent stake in Morgans Hotel Group, made his investment through a new venture with Sydell Group, the hotel developer and operator that owns the 124-year ground lease for the site and that is also a part-owner of the Ace Hotel one block away. … [more]