5 Beekman to become a Thompson hotel

TRD New York /
Mar.March 19, 2012 06:30 PM

The Real Deal reported last week that a joint venture partnership including New York Ace Hotel owner and GFI Capital Resources Group President Allen Gross’ GB Lodging has purchased 5 Beekman Street. Now word comes that the Lower Manhattan property will become a hotel under the Thompson Hotels brand, operated by Commune Hotels & Resorts, according to a statement from Commune.

The Chetrit Group and Bonjour Capital sold the nine-story building, at Nassau Street, to GB Lodging, after a planned sale to hotelier Andrea Balazs fell through last year. The sale has now closed, a spokesperson for Commune said. The spokesperson did not know how much GB Lodging paid for the building.

The ornate, landmarked building will become a 297-room boutique hotel with 90 residences, according to the statement.

Thompson operates hotels in New York City, Chicago, Los Angeles, Washington DC, Miami Beach, Toronto, and London.

“We will pay homage to the history and grandeur of this iconic building and combine classic and modern design to create a vibrant community that will further enliven and rejuvenate the Financial District and downtown Manhattan,” said Jason Pomeranc, Commune Hotels & Resorts’ co-chairman. — Guelda Voien


Related Articles

arrow_forward_ios
Courtyard by Marriott in Herald Square and Marriott CEO Arne Sorenson (Google Maps, Getty)

Courtyard by Marriott in Herald Square to close permanently

Courtyard by Marriott in Herald Square to close permanently
From left: Embassy Suites at 60 West 37th Street, Ashford Hospitality Trust CEO Douglas Kessler, Magna Hospitality Group CEO Robert Indeglia and Royalton Hotel at 44 West 44th Street (Ashford, Magna Hospitality, Google Maps)

Royalton, Garment District hotels sell at discounts

Royalton, Garment District hotels sell at discounts
Hilton CEO Christopher Nassetta and the hotel at 234 West 42nd Street (Google Maps; Getty; Hotel Planner)

Hilton Times Square to close permanently

Hilton Times Square to close permanently
From left: Holiday Inn Express at Wall Street, Cindat CEO Greg Peng and Holiday Inn Express at Times Square (Credit: IHG/Booking and Cindat)

Cindat looks to sell stake in Manhattan hotel portfolio at discount

Cindat looks to sell stake in Manhattan hotel portfolio at discount
Thor Equities’ Joseph Sitt and Palmer House Hilton at 17 East Monroe Street (Google Maps)

Joe Sitt’s Thor faces massive foreclosure suit at trophy Chicago property

Joe Sitt’s Thor faces massive foreclosure suit at trophy Chicago property
Commercial real estate indices were down compared with this time last year, but buyers still aren’t selling — yet (iStock)

Report shows how much commercial real estate has fallen

Report shows how much commercial real estate has fallen
Foreclosures may be on the horizon for New York City’s hotel market, where there’s nearly $1.5 billion in unpaid CMBS debt. (iStock)

Nearly $1.5B in NYC hotel loans are unpaid

Nearly $1.5B in NYC hotel loans are unpaid
(iStock)

Half empty or half full? Hotel occupancy rate nears 50%

Half empty or half full? Hotel occupancy rate nears 50%
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...