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Omnia Group lands Refi for 225 Bowery

Redeveloped hotel is now open to guests

Ace Hotel at 225 Bowery (Credit: Omnia Group)

David Paz’s Omnia Group and Ran Eliasaf’s Northwind Group have secured an $80 million mortgage from Bank Hapoalim to refinance 225 Bowery. The new Ace Hotel consists of 200 rooms, a rooftop bar, and a ground-floor restaurant.

Financing details: The five-year balance-sheet loan replaces previous debt provided by Bank of the Ozarks, according to TRD.

Flashback: Omnia and its minority partner Northwind paid $30.5 million for the hotel in 2014. The building has subsequently undergone a major renovation.

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