The Sapir Organization’s Rotem Rosen and Alex Sapir, in partnership with Buddha Bar founder and owner Gerard Guez, purchased the Mondrian Soho hotel for $205 million.
The partnership picked up the hotel at 9 Crosby Street from a financial institution that foreclosed on the property last year. The 270-room hotel will remain a luxury, five-star property under the new ownership, but will undergo a name change, according to the New York Post.
Rosen and Sapir will add the hotel, which was formerly part of the Morgans Hotel Group, to their high-end Zuma restaurant brand in the U.S., which is to take up 23,000 square feet at the Sapir Organization’s 260-261 Madison Avenue office building, as previously reported.
The Mondrian sale was first reported by the Israeli press on Sunday, the Post noted. [NYP] — Julie Strickland