King & Grove adds Hotel Lola to portfolio

New York /
Jun.June 05, 2012 02:00 PM

King & Grove has added the Hotel Lola on East 29th Street to its growing portfolio, Hotel Chatter reported without a known price. The hotel is the firm’s flagship property and began operating under the name King & Grove New York.

As The Real Deal previously reported, King & Grove, which is backed by the Chetrit Group, purchased the 64-room Hotel Williamsburg for $33 million. The sale set a record for Brooklyn for the highest sale price on a per-unit basis. Besides the Hotel Williamsburg, King & Grove has also picked up managing duties at the Hotel Chelsea and is planning two hotels for Downtown Los Angeles.

Located at 29 East 29th Street at Madison Avenue, the hotel was owned by Property Markets Group and called Hotel Thirty-Thirty before being renamed Hotel Lola. Now the King & Grove New York, the property will eventually boast a new lobby design, as well as new restaurant and bar lounge concepts. [Hotel Chatter]


Related Articles

arrow_forward_ios
(Getty, Winick)
Chetrit Group sells 1231 Third Avenue
Chetrit Group sells 1231 Third Avenue
The Chetrit Organization’s Michael Chetrit, Harbor Group International CEO Jordan Slone and 850 Third Avenue (Harbor Group, 850thirdavenue)
Chetrit Org’s 850 Third Avenue heads to foreclosure auction
Chetrit Org’s 850 Third Avenue heads to foreclosure auction
Joseph Chetrit with the Tides Hotel  (Getty, Tides via Facebook)
Chetrit’s lender alleges it stole $2M insurance payout for South Beach hotel damage
Chetrit’s lender alleges it stole $2M insurance payout for South Beach hotel damage
(Moinian Group, CVS)
CVS signs lease for 512 7th Avenue store
CVS signs lease for 512 7th Avenue store
Joseph Chetrit with 427 and 459 (left) Broadway (Getty, Beyond My Ken/Wikimedia)
Chetrit Group falls behind on Soho portfolio mortgage
Chetrit Group falls behind on Soho portfolio mortgage
Joseph Chetrit, Jordan Slone (Getty, NADLAN)
Harbor buys nearly 5,500-unit portfolio from Chetrit for $390M
Harbor buys nearly 5,500-unit portfolio from Chetrit for $390M
315 West 35th Street with Isaac Chetrit and DJ Dashti (Google Maps, Linkedin, iStock)
Chetrit to open flex-office location near Penn Station
Chetrit to open flex-office location near Penn Station
261 Madison Avenue and 205 East 42nd Street are among the closed locations. (Sapir, Durst, WeWork)
WeWork dumps several Manhattan locations
WeWork dumps several Manhattan locations
arrow_forward_ios

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

Loading...