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Cain Acquires Dominick Hotel, Will Rebrand as Delano
Cain, the privately held investment-management firm led by Jonathan Goldstein, has acquired The Dominick at 246 Spring St. at the intersection of Lower Manhattan’s SoHo and Hudson Square neighborhoods. The property will be renovated and rebranded as the Delano SoHo New York, a luxury lifestyle condo hotel featuring enhanced guestrooms, food and beverage outlets and enhanced amenities.
“The global demand for authentic luxury-lifestyle experiences has never been stronger, particularly in leading gateway cities,” said Eric Poretsky, senior managing director, head of U.S. equity at Cain. “New York remains one of the most dynamic hospitality markets in the world, and SoHo offers the ideal backdrop for Delano’s pioneering collection of design, culture and creativity.”
Madison Realty Capital and Newbond Holdings originated a $180-million loan to affiliates of Cain for the acquisition and redevelopment of The Dominick. Cain acquired a minority stake in the Delano brand in 2024.
- ◦Sale/Acquisition
- ◦Financing
