Billionaire real estate mogul Alex Sapir has led a group of investors in the acquisition of New York’s famed Mondrian Soho hotel for $205 million. The group of partners in the deal had the winning bid at an auction to buy the property from Germany’s Deutsche Bank and the sale received final approval in a New York state court on Wednesday.
Located at 9 Crosby Street in Manhattan’s Soho neighborhood, the hotel has 270 rooms. Its services include a 24 hour concierge, a 24 hour front desk, a 24 hour gym, a restaurant and a Bar. It is one of three hotels of that name including one in Los Angeles.
The Mondrian opened in 2011 and went into foreclosure in 2013.