Fortuna Realty Group | The Real Deal New York

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Fortuna Realty Group

527 Madison Avenue, 20th Floor
New York, NY 10022
(212) 922-1220
Website
Fortuna-Realty-Group
Fortuna Realty Group
Fortuna Realty Group is a real estate investment and development company with a focus on hospitality and multi-family assets. The firm was founded in 1984 by Morris Moinian with its first acquisition, 1489 First Avenue. It has since expanded to other hotels and properties in Manhattan, as well as the Loews Paradise Island Hotel in the Bahamas (which it sold in 1999) and the Hyatt Orlando Resort. The firm has been particularly active in hotels, owning the Hotel Hugo and the Indigo Hotel Chelsea. In 2012 the firm purchased Long Island’s historic Garden City Hotel for approximately $91 million, snagging the hotel from the Nelkin family. In 2015 Fortuna purchased the Wyndam Garden hotel in the Flatiron district for $60 million, outbidding other companies such as Bridgeton Acquisitions. Fortuna also has kept a presence in the Caribbean, owning the Sugar Bay Resort and Spa in the U.S. Virgin Islands.
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Morry-Kalimian-Morris-Moinian-FB
05/10/16
Morris Moinian and his investment partner were the winning bidders at a bankruptcy auction for a Lower East Side hotel development site, and will pay...
Moinian party
02/05/16
Morris Moinian, Ismael Leyva, Frank Seta and Joe Moinian Rainy skies on Wednesday cleared just in time for drinks and nibbles at the Hotel Hugo,...
Wyndham feat
12/17/15
Gemini Real Estate Advisors sold yet another hotel for $60 million, even as the company’s owners duke it out in court over the sale of...
Midtown-Roof-Collapse-feature
11/30/15
Workers have died and sustained injuries at an alarmingly high rate as construction has boomed in the city over the last two years. Tags: construction accidents ...
Top permits thumb
11/12/15
It’s still a long way to Mayor Bill de Blasio’s goal of creating or preserving 200,000 affordable housing units by 2025, but the city’s developers...
tamarkin feat
11/02/15
Two workers were injured when a ceiling partly caved in Monday morning at Cary Tamarkin’s 555 West End Avenue, the former St. Agnes Boys High...
Midtown-Roof-Collapse-feature
10/30/15
First published 11:27 a.m.: A demolition worker was killed Friday morning after the ceiling collapsed at a Midtown building under construction, according to news reports. Tags: fortuna...
1150 Sixth Avenue
10/08/15
Developer Morris Moinian’s Fortuna Realty Group officially filed plans Thursday for his Ismael Leyva-designed hotel at 1150 Sixth Avenue in Midtown with a few slight...
Morris Moinian
05/08/15
Morris Moinian’s Fortuna Realty Group has partnered with Starwood Hotels & Resorts to develop its latest hotel project in the Garment District. Tags: fortuna realty...
Morris Moinian
05/04/15
Morris Moinian’s Fortuna Realty Group has selected Ismael Leyva Architects to design its new Midtown hotel at 1150 Sixth Avenue. The 40-story, 300-key hotel, which...
Bjarke Ingels FB
04/10/15
Celebrated architect Bjarke Ingels lightheartedly threw a bit of cold water on the egos of developers the other evening as he explained that his design...
wilf2
12/31/14
Leonard Wilf of Skyline Developers revealed plans for a 24-story Midtown residential project in permits filed with the city. Tags: bryant park, gene kaufman ...
15renwick-penthouse
10/17/14
Four residential projects are in the works along a block-long stretch of Renwick Street, between Canal and Spring streets, in Soho. One of the projects...
1150 Sixth Avenue
08/18/14
A first glimpse of Morris Moinian’s Midtown development is now available. Tags: 1150 sixth avenue, fortuna realty group, morris moinian ...
feat525-Greenwich-St_TOP
03/30/14
 The mogul behind Crown Group Hospitality is bringing a new celebrity-friendly lounge to the rooftop of Hotel Hugo at 525 Greenwich Street. Tags: Greenwich Village, NYC...
525-Greenwich-StFB
03/24/14
Fortuna Realty Group’s Morris Moinian, in partnership with developer Matthew Moinian, will open the 122-key Hotel Hugo on April 1. Tags: fortuna realty group, matthew moinian ...
fortuna
03/04/14
Developer Fortuna Realty Group bought two Midtown West buildings totaling 30,000 square feet for $18.3 million in an off-market deal, according to property records filed...
hotel-hugo
02/04/14
Fortuna Realty Group and hotelier Matthew Moinian’s Hudson Square hotel project has changed its name to Hotel Hugo from Soho Hotel. Tags: fortuna realty group,...
76-80-meserole-street
11/04/13
Shifra Hager’s Cornell Realty Management is asking $38.5 million for a 61,000-square-foot Williamsburg multi-family rental building. Tags: david schechtman, eastern consolidated, fortuna realty group, Williamsburg...
moinian-fb
10/15/13
Developer Morris Moinian’s plans to raze two mid-rise buildings south of Bryant Park to make way for a 175-room hotel have hit a snag. The...
obeidfb
08/15/13
Gemini Real Estate Asset Management, the developer of the Gem and Jade hotels Downtown, has filed plans to build a 19-story Fashion District hotel at...
Interior shot of 45 East 74th Street
12/04/12
Interior shot of 45 East 74th StreetItalian construction scion turfs Town brokers, lists 45 East 74th Street townhouse with Brown Harris Stevens’ Paula del Nunzio...
From left: Ofer Yardeni and a rendering of the 112 Ninth Avenue retail space
08/21/12
Ofer Yardeni’s Stonehenge Partners has put a 5,300-square-foot retail space, which was previously the home to six small businesses on the Ninth Avenue stretch between...
s-trump-bid-on-garden-city-hotel
07/06/12
Long Island’s Garden City Hotel, which sold to a group led by Morris Moinian of the Manhattan-based Fortuna Realty Group in June, was also eyed...
Morris-Moinian-and-Golden-City-Ballroom
06/21/12
Morris Moinian’s Fortuna Realty Group has signed a contract to purchase Long Island’s iconic Garden City Hotel, Long Island Business News reported. The hotel’s owners, the...
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Fortuna Realty Group, President
527 Madison Ave., New York, NY, 212.922.1220
Morris Moinian is president at Fortuna Realty Group. Moinan, whose family is enmeshed...
  • Event Sales
  • Address 364 West 18th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 57,000
  • Price $ 33,800,000
notes
The property sold for $33.8 million. The buyer plans to rename the building Stonehenge 18, improve the apartments and reposition the building's retail space, which is currently configured as eight storefronts.
  • Event Sales
  • Address 210 West 109th Street
  • Neighborhood #VALUE!
  • Borough Manhattan
  • Price $ 8,250,000
notes
The Upper West Side building sold for $8.25 million.
  • Event Sales
  • Address 215 West 108th Street
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 31,425
  • Price $ 16,500,000
  • Price per foot $ 525.00
notes
The five- and six-story walk-up buildings sold for $16.5 million, or $525 per square foot. The price represents a capitalization rate of 5.7 percent and a gross rent multiple of 14.5. The units are primarily renovated two- and three-bedroom apartments; 31 units are free market. The properties have an additional 23,000 square feet of air rights. Includes 210 West 109th Street.
  • Event Sales
  • Address 422 Saint Nicholas Avenue
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Square feet 11,100
  • Price $ 1,810,000
notes
The walk-up building sold for $1.81 million. The price represents a gross rent multiple of 8.8 and a capitalization rate of 6.8 percent.
  • Event Sales
  • Building Name 112-126 Ninth Avenue
  • Address 112 Ninth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 60,000
  • Price $ 40,000,000
notes
The prewar building, which has 64 residential units and eight retail units, went into contract for $40 million. The property is expected to undergo major renovations and bring in new retail tenants.
  • Event Sales
  • Address 112 Ninth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 57,000
  • Price $ 31,400,000
notes
The rental building sold for $31.4 million. The buyer plans to renovate and upgrade the prewar property and hopes to attract high-end retailers for the building's ground-floor storefronts.
  • Event Sales
  • Building Name Dylan Hotel
  • Address 52 East 41st Street
  • Neighborhood Grand Central
  • Borough Manhattan
  • Price $ 78,000,000
notes
The two companies, both based in Spain, bought the hotel for $78 million.
  • Event Retail Leasing
  • Address 114 Ninth Avenue
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 950
notes
The sandwich chain signed a lease for another location.
Manhattan, 10018
Fortuna Realty Group
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Manhattan, 10018
Fortuna Realty Group
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