NEW YORK CITY—The Mondrian Park Avenue hotel opened in October 2017, along with another Mondrian branded hotel in Doha, Qatar, and it recently received a $126.57 million refinancing loan. The hotel is located at 444 Park Ave. South, in Manhattan's NoMad district.
According to Real Capital Analytics, with a joint venture, Moin Development Corp. and SBE Hotels purchased the 83,730 square-foot office building from Salvatore Gaudio in 2011 for $45 million. In August 2012, the owners received $24.9 million in refinancing from Doral Bank, and in July 2015 received another $109 million loan from Fortress.
Holliday Fenoglio Fowler's Evan Pariser and KC Patel represented the sponsor, David Moinian of Moin Development, in placing the floating-rate loan with JPMorgan Chase bank.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
