MANUFACTURING
L.A. Apparel Maker Invests in New York SoHo Hotel
It isn’t exactly Hotel California. Instead, it’s the NoMo SoHo hotel in lower Manhattan, which is under new ownership and a new name.
What used to be the Mondrian SoHo, opened in 2011, went through some financial difficulties and had one of its lenders, German American Capital Corp., foreclose on the owners, Sochin Downtown Realty, which reportedly owed more than $250 million in unpaid loans.
Winning the auction and buying the hotel in March were Los Angeles apparel maker Gerard Guez, chief executive of Sunrise Brands, whose brands include American Rag, and the real estate group ASRR Capital. The price was a reported $200 million. ASRR Capital is a publicly held company traded on the Tel Aviv Stock Exchange. Its controlling shareholders are Alex Sapir and Rotem Rosen. Guez did not respond to emails for comment.
The newly acquired 263-room hotel opened April 6 as the NoMo SoHo hotel at 9 Crosby St., not too far from Little Italy. NoMo is an abbreviation for nostalgic and modern.
The hotel already had a Hollywood vibe, with guests such as Kanye West, Britney Spears and Blake Lively walking through the front door.
The hotel will be fully relaunched later this year and is a part of Preferred Hotel & Resorts’ “Lifestyle” collection.
