Reuben Brothers gets 30% discount on Surrey Hotel buy

Firm’s British billionaire duo paid $150M for UES property

New York /
Dec.December 08, 2020 02:15 PM
Simon and David Reuben with The Surrey hotel (Getty, The Surrey)

Simon and David Reuben with The Surrey hotel (Getty, The Surrey)

 

The Reuben Brothers paid about $150 million for the Surrey Hotel, a discount of roughly 30 percent off its asking price.

The company run by British billionaires Simon and David Reuben purchased the hotel at 20 East 76th Street, property records filed with the city Tuesday show. That’s about $65 million less than the asking price of $215 million that Bloomberg cited last week when it first reported news of the deal.

Representatives for the Reuben Brothers and the Surrey’s seller, the Kaufman Organization, could not be immediately reached for comment.

The hotel filed for bankruptcy earlier this year when the ground lease holder, Ashkenazy Acquisitions, filed for Chapter 11 after the hotel’s operator missed payments.

This the latest acquisition in the U.S. for the Reubens, who have been snapping up properties this year. In late April, they purchased a retail condo from SL Green for $170 million and recently purchased stakes in three hotels in Chicago, Miami and Las Vegas.

 





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