GFI buys Carlton Hotel for $162M

Acquisition adds to firm's NoMad hotel holdings

TRD New York /
Oct.October 14, 2015 12:00 PM

Allen Gross’ GFI Capital Resources Group acquired the Carlton Hotel in NoMad for $162.1 million, according to property records filed with the city Wednesday.

GFI bought the 12-story, 317-key hotel at 88 Madison Avenue from the Wolfson Group, a Financial District-based real estate investment firm led by the Wolfson family. The deal for the 111-year-old Beaux-Arts building, located between East 28th and East 29th streets, closed Sept. 30.

The Carlton Hotel acquisition adds to GFI’s sizable hotel holdings in NoMad, which include the 269-key Ace Hotel, at 20 West 29th Street, and the 168-key NoMad Hotel, at 1170 Broadway.

The firm’s plans for a new Ace Hotel in Downtown Brooklyn were dealt a blow last year, after a local community board rejected a proposed zoning variance for the site.

Representatives for GFI and the Wolfson Group could not be reached for comment.


Related Articles

arrow_forward_ios
GFI and Marx raise north of $60M apiece in Tel Aviv bond offerings

GFI and Marx raise north of $60M apiece in Tel Aviv bond offerings

GFI and Marx raise north of $60M apiece in Tel Aviv bond offerings
The Hotel Indigo Lower East Side at 171 Ludlow Street and Rotem Rosen (Credit: Hotel Indigo)

Tallying crisis’ toll on MRR Development’s Hotel Indigo

Tallying crisis’ toll on MRR Development’s Hotel Indigo
Selina CEO Rafael Museri (Credit: The Vollman Group)

Selina CEO says $60M in funding will get startup through crisis

Selina CEO says $60M in funding will get startup through crisis
Rotem Rosen with the Hotel Indigo Lower East Side at 171 Ludlow Street, and Alex Sapir with the NoMo Soho hotel at 9 Crosby Street (Credit: Google Maps)

Sapir gets PPP loan for NYC hotel; Rotem Rosen to return his

Sapir gets PPP loan for NYC hotel; Rotem Rosen to return his
GFI Capital CEO Allen Gross with the Beekman Hotel at 123 Nassau Street (top left), Ace Hotel at 20 West 29th Street in NYC (right) and Ace Hotel & Swim Club Palm Springs in California (bottom left) (Credit: Ace Hotels; GFI; Google Maps)

Allen Gross, owner of Ace and Beekman hotels, expecting $12M PPP loan

Allen Gross, owner of Ace and Beekman hotels, expecting $12M PPP loan
Clockwise from top left: John Tolbert, Philip Goldfarb, Dev Motwani, José Cil and Ken Stiles

Developers, resort owners push for Florida reopening plan

Developers, resort owners push for Florida reopening plan
Courtyard by Marriott Boston Downtown. Homewood Suites Chicago and Sheraton San Jose Hotel (Credit: Google Maps)

Hotel CMBS loans worth $2B fall into special servicing

Hotel CMBS loans worth $2B fall into special servicing
The Hotel Indigo Lower East Side at 171 Ludlow Street and Rotem Rosen (Credit: Google Maps)

Rotem Rosen lands SBA loan on Hotel Indigo to keep lights on

Rotem Rosen lands SBA loan on Hotel Indigo to keep lights on
arrow_forward_ios

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

Loading...