The Real Deal New York

Sapir Organization closes on Mondrian Soho for $205M

Alex Sapir picked up the hotel at a January foreclosure auction
March 08, 2015 01:29PM

The Sapir Organization’s Alex Sapir officially closed on the Mondrian Soho Hotel Friday afternoon for $205 million.

The Real Deal reported in January that Sapir purchased the financially troubled 270-room hotel, located at 9 Crosby Street, at a foreclosure auction.

Sapir financed $180 million of the purchase. – Christopher Cameron

  • Amar Chugg

    That sounds a little high for a foreclosure property that’s reportedly ‘troubled’.

    • hmmm

      They were in default at $250MM, I have the info on the foreclosure.
      He paid $760K per room…..