Hotel Market


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From left: The Row Hotel at 700 8th Avenue, the Williamsburg Hotel at 96 Wythe Avenue, the Selina Hotel at 516-518 West 27th Street and 20 Times Square (Credit: Google Maps, Sumaida + Khurana, PBDW)

More NYC hotel loans are defaulting as room rates fall

New York City has seen a spate of high-profile hotel loans go into default in recent months, and challenging...

More NYC hotel loans are defaulting as room rates fall
The Blakely Hotel at 136 West 55th Street and Richard Born (Credit: Google Maps, iStock, Richard Born by Studio Scrivo)

Hotel owner says competition, not union deal, led to closure

Earlier this month Blakely Hotel employees ratified their first union contract. A week later the hotel’s owner told them...

Hotel owner says competition, not union deal, led to closure
The Blakely Hotel at 136 West 55th Street and Richard Born (Credit: Google Maps, Richard Born by Studio Scrivo)

Blakely Hotel may shut down, lay off 54 workers

Richard Born’s Blakely Hotel could shut down and lay off 54 employees this spring, according to a notice filed...

Blakely Hotel may shut down, lay off 54 workers
Donald Trump and the Trump Hotel in Washington D.C. (Credit: Getty Images)

Deadline is set for bids on Trump’s DC hotel

Potential buyers have until January 23 to bid on the Trump Organization’s controversial Washington, D.C. hotel. The firm marketing...

Deadline is set for bids on Trump’s DC hotel
Renderings of 450 11th Avenue and 350 West 39th Street (Credit: DSM Design Group and Gene Kaufman Architect)

NYC’s strong hotel pipeline pushes down occupancy, revenue: report

UPDATED, Jan. 2, 2020, 9:05 a.m.: New York City’s booming hotel inventory includes 113 new developments set to open...

NYC’s strong hotel pipeline pushes down occupancy, revenue: report
Sam Chang and 150 West 48th Street (Credit: Google Maps)

Sam Chang lands $250M loan for Midtown hotel project

Sam Chang has landed a $250 million loan for his upcoming project at 150 West 48th Street from S3...

Sam Chang lands $250M loan for Midtown hotel project
Alex Sapir and the NoMo Soho hotel at 9 Crosby Street (Credit: NoMo SoHo)

Sapir Corp.’s stock drops in Tel Aviv

The NoMo SoHo hotel owned by the Sapir Corp. saw its net operating income fall in the third quarter, dragging down the company’s overall performance in the third quarter. In the last week, Alex...

Sapir Corp.’s stock drops in Tel Aviv
181 Varick Street (Credit: Google Maps)

Claremont Companies buys Soho Marriott for $59M

Claremont Companies has purchased a Marriott in Soho for $59.35 million, according to property records. The Massachusetts-based firm bought...

Claremont Companies buys Soho Marriott for $59M
Rendering of the Staybridge Suites at 38-59 11th Street

Long Island City hotel project moves forward with construction loan

A new hotel planned for Long Island City has landed a $46 million construction loan, according to sources familiar...

Long Island City hotel project moves forward with construction loan
Heritage Equity Partners’ Toby Moskovits, Benefit Street Partners real estate managing director Micah Goodman, and the Williamsburg Hotel at 96 Wythe Avenue (Credit: Google Maps)

Toby Moskovits’ Williamsburg Hotel is headed for receivership following $68M loan default

Months after defaulting on a $68 million mortgage and failing to secure refinancing, Toby Moskovits’ Heritage Equity Partners is set to see management of...

Toby Moskovits’ Williamsburg Hotel is headed for receivership following $68M loan default
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