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New York

Sapir Organization closes on Mondrian Soho for $205M

Alex Sapir picked up the hotel at a January foreclosure auction

Alex Sapir and the Mondrian Soho
Alex Sapir and the Mondrian Soho

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

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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