Jeff Klein’s JK Hotel Group has closed on its acquisition of the Jane Hotel.
An entity connected to the hotelier bought the West Village hotel at 113 Jane Street for $62 million from an entity tied to Richard Born’s BD Hotels, according to city property records filed Tuesday. Commercial Observer first reported the sale.
Klein, who had been in contract to acquire the property, said earlier this year he would convert the hotel’s public spaces into a private club. The ballroom is being turned into a members-only restaurant under the SVB New York banner, a branch of Klein’s San Vicente Bungalows. The rooftop bar is set to become an outdoor lounge.
Other member perks will include a screening room for unreleased films, a billiards room, living rooms, a dance room and a private entrance separate from the entrance for hotel guests.
Membership will run those under 35 years of age $135 per month and $350 monthly for those older than 35.
Read more
Commercial
New York
Long-shuttered LaGuardia Courtyard Marriott sells for $53M
Commercial
New York
Facing foreclosure, world’s tallest Holiday Inn files for bankruptcy
Commercial
New York
Korean firm in talks to buy Cipriani hotel in South Street Seaport
The hotel’s rooms are expected to remain open during the renovation of the other parts of the property. The conversion details first became known earlier this year when Klein presented plans to the West Village community board.
Klein helms the JK Hotel Group, which also operates the Sunset Tower Hotel in West Hollywood. Klein and his partner sought to sell the 81-key property in 2017 for roughly $90 million, which would’ve represented a record for the neighborhood. A sale never happened, but billionaire Len Blavatnik paid $100 million to buy out the hotel’s co-owner in 2017.
The Jane Hotel was last sold in 2008 for $27 million, city property records show. The six-floor, 43,000-square-foot hotel was built in 1908 and started as the American Seamen’s Friend Society Sailors’ Home and Institute, charging 25 cents a night. It also housed survivors of the Titanic’s sinking.