Simon and David Reuben have acquired the Surrey Hotel at 20 East 76th Street from the Kaufman Organization for $150.15 million, according to property records. The 189-key hotel spans 135,582 SF.
- Worth Noting: The hotel filed for bankruptcy earlier this year when the ground lease holder, Ashkenazy Acquisition, filed for Chapter 11 after the hotel’s operator missed payments, Bloomberg noted.
- Be Smart: In May, the Reuben Brothers paid SL Green $170 million for the retail condo at 609 Fifth Avenue, and have been aggressively scooping up opportunities – both the debt & equity – ever since then.
- Worth Noting: Earlier this week, the brothers acquired a $132 million mortgage from Mack Real Estate for the senior loan behind the St. Regis Bal Harbour. The loan was issued in 2018 and has a four-year term with a one-year extension option, REW noted. The 27-story hotel includes 192 rooms and 24 condo-hotel units, and has been owned by Al Rayyan Tourism Investment Company since 2014. [Bloomberg+TRD+ACRIS+REW]