Aby Rosen to turn Holiday Inn Soho into boutique hotel

RFR Holding paid $89.7 million for 138 Lafayette Street in August

New York /
Oct.October 15, 2014 12:15 PM

Aby Rosen’s Midtown East-based development firm RFR Holding plans to transform the Holiday Inn Soho into a boutique similar to other properties owned by the real estate mogul.

The hotel at 138 Lafayette Street will close for a sweeping, roughly yearlong renovation starting in January, according to Crain’s. RFR Holding bought the hotel for $89.7 million from the Rhode Island-based Procaccianti Group in August, as The Real Deal reported.

Now the firm plans to turn the 114,500-square-foot, 14-story hotel into a boutique similar to RFR Holding’s Gramercy Park Hotel, Paramount Hotel and the W South Beach. Twelve of the Holiday Inn Soho’s 227 rooms are suites.

RFR Holding plans to expand the hotel’s total retail area to 9,720 square feet and add outdoor balconies to six rooms, according to the developer’s website.

RFR’s purchase came as budget brands have struggled in New York. An expert said regular customers at budget chains chafed at the high rates hotels like Holiday Inn charged in the city.

In August, Rosen received partial demolition permits for his controversial 11-story residential project at 67 Vestry Street in Tribeca, as previously reported. Tenants have fought for the existing structure to be designated a landmark.

RFR Realty is also in contract to buy the Church Missions House at 281 Park Avenue South for $50 million, as The Real Deal reported. [Crain’s]Shant Shahrigian


Related Articles

arrow_forward_ios
Dr. Samantha Boardman. Inset: Aby Rosen (Getty, iStock)
Aby Rosen’s wife: “Huge amount of dread” about return to offices
Aby Rosen’s wife: “Huge amount of dread” about return to offices
Aby Rosen and 60 East 55th Street. (Getty, Google Maps)
Special servicer calls for Aby Rosen’s home of Core Club to be sold at auction
Special servicer calls for Aby Rosen’s home of Core Club to be sold at auction
Aby Rosen and 522 Fifth Avenue (Getty, Google Maps)
RFR pitches Fifth Avenue office building as “build-to-suit” corporate HQ
RFR pitches Fifth Avenue office building as “build-to-suit” corporate HQ
From left: RFR’s Aby Rosen, Vanke US managing director Kai-yan Lee and 100 East 53rd Street (Photos via Tdorante10/Wikipedia and Getty)
Chinese bank seeks foreclosure of RFR and Vanke’s Midtown condo project
Chinese bank seeks foreclosure of RFR and Vanke’s Midtown condo project
Aby Rosen and the Gramercy Hotel (Getty, Google Maps)
Solil Management sues to end RFR’s Gramercy Park Hotel lease
Solil Management sues to end RFR’s Gramercy Park Hotel lease
From left: Vanke US managing director Kai-yan Lee, 100 East 53rd Street and RFR’s Aby Rosen (Photos via Foster + Partners and Getty)
Vanke files $680K suit in condo dispute with RFR
Vanke files $680K suit in condo dispute with RFR
The Gramercy Park Hotel at  2 Lexington Avenue and Aby Rosen of RFR Holding (Getty; Google Maps)
Aby Rosen’s Gramercy Park Hotel faces eviction
Aby Rosen’s Gramercy Park Hotel faces eviction
RFR Holding's Aby Rosen with the Seagram Building and the Chrysler Building (Photos via Getty; iStock)
Aby Rosen says firms have been too “nice-nice” with employees
Aby Rosen says firms have been too “nice-nice” with employees
arrow_forward_ios

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

Loading...