Nazarian, Moin nab adjacent building to enlarge planned SLS Murray Hill hotel

New York /
May.May 20, 2013 03:00 PM

Hotel mogul Sam Nazarian and Moin Development’s David Moinian have purchased a pet hospital next to Their 444 Park Avenue South hotel conversion project, according to a release from Daniel T Enterprises, a commercial real estate firm that brokered the deal. The duo paid $4 million for the 4,200-square-foot property, located at 47 East 30th Street, which will be an addition to their hotel, the release said.

“This was a great opportunity for both seller and purchaser,” Tamir Daniel, the president of Daniel T Enterprises, said in the release. “We made the seller aware of the hotel development and the opportunity to sell the property to the developers, and advised the purchaser of the potential asset value to the upcoming Five Stars hotel.”

The purchased building has roughly 20,000 square feet of development rights.

The hotel project comes as an effort to expand the SLS hotel brand to New York, as previously reported. Nazarian and Moin will shell out $40 million to tack five floors onto the 444 Park Avenue South building and convert it into a 190-key hotel that will charge $450 to $550 nightly. —Zachary Kussin


Related Articles

arrow_forward_ios
Sam Nazarian (Getty, iStock)
Coachella resort fraudster duped Sam Nazarian
Coachella resort fraudster duped Sam Nazarian
Sam Nazarian (Photo by Kevin Scanlon)
The Closing: Sam Nazarian
The Closing: Sam Nazarian
Sam Nazarian with 8815 Arvida Drive (Getty, REWS Miami - David Hernandez)
Goodbye LA: Hospitality mogul Sam Nazarian buys Miami area mansion
Goodbye LA: Hospitality mogul Sam Nazarian buys Miami area mansion
Sam Nazarian and Accor CEO Sébastien Bazin (Getty)
Nazarian trades hotel assets including SLS, Delano to focus on virtual kitchens
Nazarian trades hotel assets including SLS, Delano to focus on virtual kitchens
SBE's Sam Nazarian and leading architect Kobi Karp
“It is catastrophic:” Sam Nazarian, Kobi Karp talk coronavirus toll
“It is catastrophic:” Sam Nazarian, Kobi Karp talk coronavirus toll
AccorHotels to buy half of Sam Nazarian’s SBE Entertainment
AccorHotels to buy half of Sam Nazarian’s SBE Entertainment
AccorHotels to buy half of Sam Nazarian’s SBE Entertainment
Sam Nazarian gets bought out of the Mondrian Park Avenue hotel
Sam Nazarian gets bought out of the Mondrian Park Avenue hotel
Sam Nazarian gets bought out of the Mondrian Park Avenue hotel
Panelists announced for TRD’s annual Miami showcase
Panelists announced for TRD’s annual Miami showcase
Panelists announced for TRD’s annual Miami showcase
arrow_forward_ios

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

Loading...