Rotem Rosen and Alex Sapir in a partnership with Buddha Bar founder / owner Gerard Guez have bought the Mondrian Soho hotel for $205 million. The hotel was previously owned by a financial institution that took over the property when it was in foreclosure. The new owners will reportedly re-name and re-brand the existing property.
The hotel will remain a luxury boutique hotel but no new name or brand has been announced. There is speculation that it will become Buddha Bar and Hotel New York, as part owner, Guez, already operates three Buddha Bar and Hotels in Paris, Prague and Budapest.
No planned changes have been announced for the property. The Mondrian just opened a new rooftop soda shoppe called Sonny’s. Rates at the Mondrian this weekend start at $295 per night.