Claremont Companies buys Soho Marriott for $59M

Property at 181 Varick Street is a Courtyard by Marriott

New York /
Nov.November 18, 2019 12:50 PM
181 Varick Street (Credit: Google Maps)

181 Varick Street (Credit: Google Maps)

Claremont Companies has purchased a Marriott in Soho for $59.35 million, according to property records.

The Massachusetts-based firm bought the hotel from an LLC that lists Hok Kit Lou as its managing member. The building, at 181 Varick Street, is 19 stories tall and about 52,000 square feet.

Claremont Companies and Marriott did not respond to requests for comment.

Last month The Real Deal reported that the five boroughs have a swollen pipeline of hotel projects and revenue in the city’s hotel market has been moving in the wrong direction.

In September, Claremont Companies sold a Marriott-branded hotel in Pompano Beach, Fla., for $44 million. Earlier in the year a group of investors led by Madison Capital bought a Soho office building at 130 Prince Street for about $206 million.


Related Articles

arrow_forward_ios
The Roger New York hotel at 131 Madison Avenue, Larry Korman of AKA Hotel Residences and Joe Lubeck of Electra America (Google Maps, Getty, Electra)
Electra America JV nabs Roger hotel for $71M discount
Electra America JV nabs Roger hotel for $71M discount
The grand reopening: As restrictions lift, CRE markets race toward recovery
The grand reopening: As restrictions lift, CRE markets race toward recovery
The grand reopening: As restrictions lift, CRE markets race toward recovery
 Assembly member Karines Reyes, Andrew Cuomo and Sen. Michael Gianaris (Getty)
Bill to fund hotel and office conversions heads to Cuomo’s desk
Bill to fund hotel and office conversions heads to Cuomo’s desk
The commercial market was hit hard by the pandemic, and property tax revenue is expected to fall 5 percent. (iStock)
Tax bills show how much Covid devalued NYC real estate
Tax bills show how much Covid devalued NYC real estate
Sen. Michael Gianaris (Getty, iStock)
Hotel, office conversion bill advances with deadline at hand
Hotel, office conversion bill advances with deadline at hand
Acting Katara CEO Andrew Humphries and 355 West 16th Street (Google Maps, AHIC)
Katara Hospitality takes over Dream Downtown’s $125M ground lease
Katara Hospitality takes over Dream Downtown’s $125M ground lease
102-05 Ditmars Blvd (Google Maps)
Queens hotel wins massive tax reduction
Queens hotel wins massive tax reduction
About 38 percent of New York hotels with loans in commercial-mortgage backed securities were 30 days or more past due in May. (iStock)
Hotels’ recovery taking longer in NYC than elsewhere
Hotels’ recovery taking longer in NYC than elsewhere
arrow_forward_ios

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

Loading...