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Sonesta International Hotels Corporation Adds Four New York City Hotels

Retrieved on: 
Wednesday, April 27, 2022

NEWTON, Mass., April 27, 2022 /PRNewswire/ -- Sonesta International Hotels Corporation (Sonesta), one of the fastest-growing hotel companies in the U.S., today announced an investment in four boutique and lifestyle hotels in New York City. The hotels are all located in Midtown and were formerly known as The Benjamin, The Shelburne Hotel & Suites, the Gardens Suites Hotel and the Fifty Hotel & Suites. Each hotel will be rebranded under Sonesta's portfolio of dynamic brands and operate as The Benjamin Royal Sonesta New York, The Shelburne Sonesta New York, The Gardens Sonesta ES Suites New York and The Fifty Sonesta Select New York. The hotels were previously owned by Denihan Hospitality Group, which will continue to own a minority interest in the hotels.

Key Points: 
  • Sonesta Adds 918 Guest Rooms, Including 524 Suites, Across Four Sonesta Brands
    NEWTON, Mass., April 27, 2022 /PRNewswire/ --Sonesta International Hotels Corporation (Sonesta), one of the fastest-growing hotel companies in the U.S., today announced an investment in four boutique and lifestyle hotels in New York City.
  • Each hotel will be rebranded under Sonesta's portfolio of dynamic brands and operate as The Benjamin Royal Sonesta New York , The Shelburne Sonesta New York , The Gardens Sonesta ES Suites New York and The Fifty Sonesta Select New York .
  • The four hotels comprising Sonesta's New York City hotel portfolio are:
    The Benjamin Royal Sonesta New York represents Sonesta's first distinctive full-service property in Manhattan.
  • You will find nearly 300 hotels under one of Sonesta's seven brands Royal Sonesta ; Sonesta Hotels & Resorts ; Sonesta Select ; Sonesta ES Suites ; Sonesta Simply Suites ; Sonesta Posadas del Inca ; Sonesta Cruise Collection operating in the U.S., Canada, Chile, Colombia, Ecuador, Egypt, Peru, and St. Maarten.

Ceruzzi Properties Secures $350 Million Loan at ‘The Centrale’ NYC Luxury Tower

Retrieved on: 
Friday, February 21, 2020

Meritz provided Ceruzzi with a $350 million inventory loan collateralized by the luxury residential tower, which pays off a previous $300 million construction loan Madison Realty Capital provided to Ceruzzi in 2017.

Key Points: 
  • Meritz provided Ceruzzi with a $350 million inventory loan collateralized by the luxury residential tower, which pays off a previous $300 million construction loan Madison Realty Capital provided to Ceruzzi in 2017.
  • We are pleased with the seamless execution of this latest financing between all parties involved, said Ceruzzi President Arthur Hooper.
  • Ceruzzi completed The Centrale in early 2019 and has begun selling condos at the project, having put 20 units into hard contract already.
  • The new financing pays off the $300 million construction loan Madison Realty Capital provided to Ceruzzi in 2017 and allows the firm to successfully exit the investment.