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Morris Moinian

President
Fortuna Realty Group
527 Madison Avenue
New York, NY 10022
(212) 922-1220
Website

Morris Moinian is president at Fortuna Realty Group. Moinian, whose family is enmeshed in the real estate industry (his brother is famed developer Joseph Moinian, and his nephew Matthew is one of the heirs apparent to the empire), has made his name developing and renovating hotels. Moinian began his career as co-founder of Chattanooga Manufacturing, one of the largest women's apparel suppliers. More than a decade later, he began using his Chattanooga earnings to invest in real estate, focusing on residential buildings in Upper Manhattan. In 1995, Moinian switched completely to real estate (having already founded Fortuna Realty Group in 1984) and began developing hotels and resorts in New York and around the Caribbean. However, Moinian also branched out with a financial arm at Fortuna Funding, which originates loans, as well as indoor cycling studio Revolve, which he hopes to expand beyond its two locations in New York and Washington, D.C. Moinian is a board member of the Grand Central Partnership and the Sephardic Society of Manhattan.

  • Event Sales
  • Address 1150 Sixth Avenue
  • Neighborhood Grand Central
  • Borough Manhattan
  • Square feet 48,000
  • Price $ 39,000,000
  • Price per foot $ 812.50
  • Publication Date 05/01/2012
  • Event Date 03/22/2012
  • Party 2 Morris Moinian
notes
The property sold for $39 million, the New York Post reported. The buyer plans to build a new hotel or office building on the site.
  • Event Sales
  • Address 210 West 109th Street
  • Neighborhood Morningside Heights
  • Borough Manhattan
  • Price $ 8,250,000
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
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
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
notes
The two companies, both based in Spain, bought the hotel for $78 million.
  • Event Sales
  • Address 129 West 29th Street
  • Neighborhood Chelsea
  • Borough Manhattan
  • Square feet 85,000
  • Price $ 26,000,000
  • Price per foot $ 305.88
notes
The multifamily residential loft building sold for $26 million, or $302 per square foot. The buyer plans to upgrade it to a Class B property.
Manhattan, 10013
MORRIS MOINIAN, FORTUNA REALTY HOTEL SOHO LLC
523 Greenwich Street is a 48,704 square foot building in the Soho neighborhood...

11/04/2015
Manhattan tied Queens for the most hotel development plans submitted in October, with three future buildings totaling 386 keys, the biggest coming from Morris Moinian’s Fortuna Group, which is looking to construct a 310-unit Hotel Tower On Madison Avenue in hotel-heavy Midtown...