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Fortuna Realty Group
Fortuna Realty Group is a real estate investment and development company with a focus on hospitality and multi-family assets. The firm was founded in 1984 by Morris Moinian with its first acquisition, 1489 First Avenue. It has since expanded to other hotels and properties in Manhattan, as well as the Loews Paradise Island Hotel in the Bahamas (which it sold in 1999) and the Hyatt Orlando Resort. The firm has been particularly active in hotels, owning the Hotel Hugo and the Indigo Hotel Chelsea. In 2012 the firm purchased Long Islands historic Garden City Hotel for approximately $91 million, snagging the hotel from the Nelkin family. In 2015 Fortuna purchased the Wyndam Garden hotel in the Flatiron district for $60 million, outbidding other companies such as Bridgeton Acquisitions. Fortuna also has kept a presence in the Caribbean, owning the Sugar Bay Resort and Spa in the U.S. Virgin Islands.
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01/21/19
...Street in Soho in partnership with his uncle, Fortuna Realty Group’s Morris Moinian.
Felix Roasting opened in late 2018 at 450 Park Avenue South — an office...
...Street in Soho in partnership with his uncle, Fortuna Realty Group’s Morris Moinian.
Felix Roasting opened in late 2018 at 450 Park Avenue South — an office...
12/11/18
...develops hotels, is working on the project with Fortuna Realty Group, which will manage the hotel. The property will include a restaurant on the ground...
09/15/17
...the “Fireside Chat” interview alongside Morris Moinian of Fortuna Realty Group.
Lastly, the Institute of Real Estate Management’s Greater New York Chapter is holding...
...failure,” said Sitt’s friend Morris Moinian of Fortuna Realty Group.
Cashing out
While industry observers continue to debate the state of the city’s...
12/21/16
...rendering of 25 West 38th Street
Morris Moinian’s Fortuna Realty Group landed a $65 million construction loan from M&T Bank for the 176-key hotel...
05/23/16
...new building will hold 103 apartments across 113,000 square feet.
6.) Fortuna Realty Group picked up the last parcel needed for a Midtown South assemblage along West 39th...
05/10/16
...at a time,“ Moinain, the head of the Fortuna Realty Group, told The Real Deal. “There was no ceiling at all to what we were...
...percent.
Morris Moinian, president of the hospitality firm Fortuna Realty Group, said Airbnb’s impact is felt most acutely by two- and three-star hotels, particularly...
02/05/16
...drinks and nibbles at the Hotel Hugo, where Fortuna Realty Group president Morris Moinian entertained a small gathering of friends and associates, including architect Ismael...
12/17/15
...million, the New York Observer reported. Hotel developer Fortuna Realty Group scooped up the hotel, beating out Bridgeton Holdings' stalking horse bid of $57 million. The...
11/30/15
...died just last month at the site of Fortuna Realty Group...
11/12/15
...Bronx
1903 West Farms Road, Bronx
Behind the story:
Fortuna Realty Group
Stagg Group
Chaim Miller Entities
Monadnock Development
Monadnock Construction is planning a 15-story, 184,000-square-foot...
11/02/15
...was killed Friday when a floor collapsed at Fortuna Realty Group...
10/30/15
...construction, according to news reports.
Behind the story:
Fortuna Realty Group
25 West 38th Street
Morris Moinian’s Fortuna Realty Group, in partnership with Starwood Hotel...
10/08/15
...Moinian and Ismael Leyva)
Developer Morris Moinian’s Fortuna Realty Group officially filed plans Thursday for his Ismael Leyva-designed hotel at 1150 Sixth Avenue in Midtown...
05/08/15
...of 25-27 West 38th Street
Morris Moinian’s Fortuna Realty Group has partnered with Starwood Hotels & Resorts to develop its latest hotel project in...
05/04/15
...Morris Moinian and Ismael Leyva
Morris Moinian’s Fortuna Realty Group has selected Ismael Leyva Architects to design its new Midtown hotel at 1150 Sixth Avenue...
04/10/15
...Ingels speak: Cushman & Wakefield’s Bob Knakal, Fortuna Realty Group founder Morris Moinian, Eastern Consolidated's James Famularo, ODA New York founder Eran Chen and...
12/31/14
...booming in the neighborhood, with Morris Moinian’s Fortuna Realty Group planning a 37-story luxury hotel at 1150 Sixth Avenue, and Ziel Feldman’s HFZ Capital...
10/17/14
...-room hotel at Nearby 231 Hudson Street next summer. Fortuna Realty Group’s Morris Moinian, in partnership with developer Matthew Moinian, opened the 122-room Hotel Hugo...
...well. Morris Moinian, founder of the development firm Fortuna Realty Group, said Schrager’s work has inspired him on “how to be an all-in-one: a...
08/18/14
A first glimpse of Morris Moinian’s Midtown development is now available. Tags: 1150 sixth avenue, fortuna realty group, morris moinian...
03/30/14
...The 122-key Hotel Hugo is being developed by Fortuna Realty Group’s Morris Moinian, in partnership with developer Matthew Moinian, and is also set to...
03/24/14
...Greenwich Streeet's exterior and ground-floor lobby (Credit: Curbed)
Fortuna Realty Group...
Fortuna Realty Group, President
527 Madison Avenue, New York, NY, (212) 922-1220
527 Madison Avenue, New York, NY, (212) 922-1220
Morris Moinian is president at Fortuna Realty Group. Moinian, whose family is enmeshed...
- Event Financing
- Address 127 West 28th Street
- Neighborhood Chelsea
- Borough Manhattan
- Price $ 50,800,000
- Publication Date 12/16/2018
- Event Date 12/14/2018
- Party 1 Fortuna Realty Group
- Party 2 Morgan Stanley
notes
The lender issued a loan of $50.8 million for the Chelsea property.
- Event Financing
- Address 120 Water Street
- Neighborhood Financial District
- Borough Manhattan
- Price $ 40,000,000
- Publication Date 12/16/2018
- Event Date 12/11/2018
- Party 1 Atlas Hospitality, Fortuna Realty Group
- Party 2 Bank America Merrill Lynch
notes
The owner secured a construction loan of $40 million for the Financial District property.
- Event Sales
- Address 364 West 18th Street
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 57,000
- Price $ 33,800,000
- Price per foot $ 592.98
- Publication Date 04/01/2012
- Event Date 02/21/2012
- Party 1 Fortuna Realty Group
- Party 1 Brokerage Eastern Consolidated
- Party 1 Broker Azita Aghravi, Brian Ezratty, Paul Nigido
- Party 2 Stonehenge Partners
- Party 2 Brokerage Eastern Consolidated
- Party 2 Broker Azita Aghravi, Brian Ezratty, Paul Nigido
notes
The property sold for $33.8 million. The buyer plans to rename the building Stonehenge 18, improve the apartments and reposition the building's retail space, which is currently configured as eight storefronts.
- Event Sales
- Address 422 Saint Nicholas Avenue
- Neighborhood Central Harlem
- Borough Manhattan
- Square feet 11,100
- Price $ 1,810,000
- Price per foot $ 163.06
- Publication Date 09/01/2011
- Event Date 07/23/2011
- Party 1 Fortuna Realty Group
- Party 1 Brokerage Ariel Property Advisors
- Party 2 King Penguin Properties
- Party 2 Brokerage In-house
notes
The walk-up building sold for $1.81 million. The price represents a gross rent multiple of 8.8 and a capitalization rate of 6.8 percent.
- Event Retail Leasing
- Address 114 Ninth Avenue
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 950
- Publication Date 08/01/2009
- Event Date 06/22/2009
- Party 1 Fortuna Realty Group
- Party 1 Brokerage Winick Realty Group
- Party 1 Broker Jeff Winick, Lori Shabtai, Monica Kass, Joshua Singer
- Party 2 Subway
- Party 2 Brokerage Winick Realty Group
- Party 2 Broker Josh Singer
notes
The sandwich chain signed a lease for another location.
- Event Sales
- Address 112 Ninth Avenue
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 57,000
- Price $ 31,400,000
- Price per foot $ 550.88
- Publication Date 01/01/2008
- Event Date 11/22/2007
- Party 2 Fortuna Realty Group
notes
The rental building sold for $31.4 million. The buyer plans to renovate and upgrade the prewar property and hopes to attract high-end retailers for the building's ground-floor storefronts.
- Event Sales
- Address 210 West 109th Street
- Neighborhood Morningside Heights
- Borough Manhattan
- Price $ 8,250,000
- Publication Date 12/01/2007
- Event Date 10/22/2007
- Party 2 Morris Moinian, Fortuna Realty Group
notes
The Upper West Side building sold for $8.25 million.
- Event Sales
- Address 215 West 108th Street
- Neighborhood Upper West Side
- Borough Manhattan
- Square feet 31,425
- Price $ 16,500,000
- Price per foot $ 525.06
- Publication Date 12/01/2007
- Event Date 10/22/2007
- Party 1 Fortuna Realty Group
- Party 1 Brokerage GFI Realty Services
- Party 1 Broker Roni Abudi, Dan Suissa
- Party 2 Morris Moinian
- Party 2 Brokerage GFI Realty Services
- Party 2 Broker Shawn Sadaghati
notes
The five- and six-story multifamily residential buildings sold for $16.5 million, or $525 per square foot. The price represents a capitalization rate of 5.7 percent and a gross rent multiple of 14.5. The units are primarily renovated two- and three-bedroom apartments; 31 units are free market. The properties have an additional 23,000 square feet of air rights. Includes 210 West 109th Street.
- Event Sales
- Building Name 112-126 Ninth Avenue
- Address 112 Ninth Avenue
- Neighborhood Chelsea
- Borough Manhattan
- Square feet 60,000
- Price $ 40,000,000
- Price per foot $ 666.67
- Publication Date 12/01/2007
- Event Date 10/22/2007
- Party 1 Brokerage Eastern Consolidated
- Party 1 Broker Eric Anton, Ronald Solarz, David Johnson
- Party 2 Morris Moinian, Fortuna Realty Group
notes
The prewar building, which has 64 residential units and eight retail units, went into contract for $40 million. The property is expected to undergo major renovations and bring in new retail tenants.
- Event Sales
- Building Name Dylan Hotel
- Address 52 East 41st Street
- Neighborhood Grand Central
- Borough Manhattan
- Price $ 78,000,000
- Publication Date 07/01/2007
- Event Date 05/22/2007
- Party 1 Morris Moinian, Fortuna Realty Group
- Party 2 Hotusa Group, Losan Hotels World
notes
The two companies, both based in Spain, bought the hotel for $78 million.
Manhattan, 10018
26 WEST 39TH LLC
26 WEST 39TH LLC
26 West 39th Street is a 19,600 square foot property built in 1910...
Manhattan, 10018
26 WEST 39TH LLC
26 WEST 39TH LLC
24 West 39th Street is a 10,816 square foot property built in 1930...
