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$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
- ◦Financing