New York
Standard’s $107M Sixty Soho Hotel deal sets post-pandemic record
Trendy boutique chain nabs hotel for $1.1M per room
60 Thompson Street; Sixty Collective’s Jason Pomeranc and Sixty Soho Hotel with Standard International’s Amber Asher (Linkedin, Google Maps, Getty)
Standard International’s deal to acquire another Downtown hotel has set a post-pandemic record.
The trendy boutique hotel chain paid $1.1 million per room for its $106.9 million acquisition of the 97-key Sixty Soho Hotel at 60 Thompson Street, according to city property records filed Friday. The price per room surpassed last month’s sale of the Mr. C hotel in the South Street Seaport for $900,000 per key.
The Real Deal reported earlier this month that Standard was in contract to buy the 14-story, 56,000-square-foot hotel from the Pomeranc family’s Sixty Collective. JLL’s Jeff Davis brokered the sale on behalf of Michael and Jason Pomeranc’s hospitality firm.
The Pomeranc family bought the property, previously known as the 60 Thompson Hotel, in 1998 for an undisclosed amount. The property sits between Broome and Spring streets in Soho.
The Sixty Soho Hotel will mark Standard’s third boutique hotel in Manhattan. The hotel operator owns the 338-key Standard High Line at 848 Washington Street and the 21-story Standard East Village at 25 Cooper Square.
The city’s hospitality sector was battered by the pandemic, but signs of hope for the industry have surfaced since New York boasted the nation’s highest hotel occupancy rate in June, according to lodging data firm STR.
In addition to South Korean luxury resort operator Sono Hospitality’s $60 million purchase of the boutique Mr. C last month, hotelier Jeff Klein paid $62 million in December for the Jane Hotel at 113 Jane Street in the West Village. Klein plans to convert parts of the property into a private club.
