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New York & Tri-State  + Uptown/Bronx  + Hospitality  | 

Blue Owl Provides $106M Refi on Upper East Side Boutique Hotel

A CBRE team led by Matthew Klauer advised Kensico Properties on the refinancing of The Lowell Hotel, the 74-key luxury boutique hotel located on Manhattan’s Upper East Side. Blue Owl Capital has provided a $106-million senior loan replacing the existing debt on the lodging property at 28 E. 63rd St., which has been owned and operated by Kensico Properties since its development as a hotel in 1984.

Located between Madison and Park avenues, The Lowell has established itself as a global luxury hospitality destination, earning recognition from leading travel publications and organizations including Travel + Leisure, Condé Nast Traveler and The Leading Hotels of the World. In 2025, Andrew Harper named The Lowell the Best Hotel in the World.

“The Lowell represents one of the most storied and irreplaceable luxury hospitality assets in the United States,” said Klauer. “The hotel’s unmatched reputation, superior market position, and experienced ownership group made this an exceptional lending opportunity.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing