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Mr. C Seaport Resort in Decrease New york Sells for $60M

Bob Ghassemieh, Ignazio and Maggio Cipriani, Mr. C Seaport at 33 Peck Slip (Getty, Mr. C Residences, Google Maps, Bob Ghassemieh)

Bob Ghassemieh, Ignazio and Maggio Cipriani, Mr. C Seaport at 33 Peck Slip (Getty, Mr. C Apartments, Google Maps, Bob Ghassemieh)

The Los Angeles-based Ghassemieh circle of relatives bought its boutique resort within the South Boulevard Seaport for an excellent $60 million in a wanted jolt for New York’s hospitality marketplace.

South Korean luxurious hotel operator Sono Hospitality Staff has made its largest step but into the U.S., purchasing the 66-key Mr. C Seaport resort for a wholesome per-room value of simply over $900,000.

The resort at 33 Peck Slip — which closed briefly this month, mentioning the pending sale — will now not perform beneath the Mr. C logo, created by way of builders Bob and Alex Ghassemieh and operators Ignazio and Maggio Cipriani beginning with a Beverly Hills resort in 2011.

The sale was once brokered by way of Jeffery Davis, who leads JLL’s funding gross sales staff for U.S. motels.

Opened in 2018, the resort was once the Cipriani circle of relatives’s first in New York Town. Visitors gained a bellini upon arrival — a cocktail of Prosecco and peach purée invented by way of Giuseppe Cipriani in Venice within the Nineteen Forties — and get right of entry to to a unfastened trip in a luxurious SUV for as much as 20 blocks.

The Ciprianis, thru their circle of relatives company Cipriani S.A., run upscale Italian eating places and match areas in Midtown and Decrease New york. Casa Cipriani, a luxurious resort and members-only membership, opened its doorways within the Battery Maritime Construction at 10 South Boulevard overdue in 2021.

The Mr. C logo grew after the Ghassemiehs led the acquisition of the Seaport constructing in 2016 for $38.3 million. Branded apartments had been added to its Beverly Hills resort the next 12 months. The logo additionally contains motels and apartments in Florida and Dubai, although the Ghassemiehs don’t seem to be concerned at both location.

The Ghassemieh circle of relatives turned into the only real proprietor of the New York assets in 2020, purchasing a minority possession stake from developer Howard Hughes, Bob Ghassemieh stated.

The sale of the Mr. C Seaport resort comes after the town’s first wholesome tourism season because the onset of the pandemic. New York boasted the country’s absolute best resort occupancy fee in June, in line with accommodation knowledge company STR, even if misery nonetheless lurks available in the market.

In other places within the Seaport district ultimate week, the Durst Group put a seven-building, 95-unit condominium portfolio alongside Entrance Boulevard, a block south of the Mr. C resort, available on the market for $87 million.

Supply Through https://therealdeal.com/2023/01/16/mr-c-seaport-hotel-sells-to-south-korean-operator-for-60m/