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New York & Tri-State  + New York  + Hospitality  | 

$127M Refi for Moin’s Mondrian Park Avenue Hotel in NYC

The Moin Development Corp secured $126.57 million in refinancing for the Mondrian Park Avenue, a 190-room, luxury, lifestyle hotel in Manhattan. HFF worked on behalf of the sponsor, David Moinian, to place the floating-rate loan with JPMorgan Chase Bank. Loan proceeds were used to refinance the construction loan.

Situated on the corner of East 30th Street and Park Avenue, the hotel is located at 444 Park Avenue South, in the heart of Manhattan’s NoMad neighborhood. Designed by Philippe Starck, Mondrian Park Avenue opened in October 2017 and features views of New York City from the Fifteen Stories rooftop lounge, the award-winning Cleo Restaurant and the Never Never night club. The property is managed by Journal Hotels.

HFF’s Evan Pariser and KC Patel represented the borrower.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing