The Real Deal New York

BD Hotels scores $62M loan to refi the Mercer Hotel

First Republic is the lender for the 75-key property in Soho
By Miriam Hall | June 20, 2017 12:50PM

From left: The Mercer Hotel, BD Hotels’ Ira Drukier and Richard Born (Credit: The Mercer and Getty Images)

BD Hotels’ TRData LogoTINY Richard Born and Ira Drukier secured $62 million to refinance the Mercer Hotel in Soho, according to records filed with the city Tuesday.

First Republic Bank is the lender, the documents show. The financing replaces a $55 million loan from Mortgage Electronic Registration Systems issued in 2007, and provides a new $7 million mortgage.

The Mercer, at 147 Mercer Street, spans 67,452 square feet across six stories, according to PropertyShark. The landmarked Romanesque revival building has 75 rooms.

Born and Ira Drukier, among the largest independent hoteliers in the city, are responsible for trendy spots like the Stanhope Hotel and Hotel Elysee. The duo is building Pod Times Square at 500 West 42nd Street, where the 665 rooms are around 120 square feet in size. It will also feature 48 one-and two-bedrooms, BD announced last year. The company also filed plans in 2016 for a 39-story, mixed use building with 350 apartments at 515 West 42nd Street.

Last July, the company formed a partnership with frequent collaborator Sean MacPherson to buy the Hotel Chelsea for $250 million.

Representatives for First Republic declined to comment. BD Hotels could not be immediately reached for comment.

Chava Gourarie contributed to reporting.