Claremont Companies buys Soho Marriott for $59M

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.