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Friday 7 July 2023

Global Holdings buys Mondrian Park Avenue....

Global Holdings, the international real estate development and investment firm has snapped up the Mondrian Park Avenue, a 190-key boutique hotel in Manhattan’s NoMad neighbourhood.

“Mondrian Park Avenue is an extraordinary asset, perfectly located in the heart of Manhattan at a time when tourists and local visitors are flooding back into the city,” said Jonathan Ofer, Chief Executive Officer of Global Holdings Management Group. “Moin Development did an incredible job converting this property into one of Park Avenue’s best hotels.”

Global Holdings previously held a senior mortgage loan on the property and completed the acquisition as part of a prior agreement with Moin Development.

Global Holdings’ portfolio includes more than 120 properties globally, totalling 10 million square feet across residential, hotel and commercial assets, including more than 1,500 hotel rooms. Global Holdings is an active player in the New York market, over the past month launching leasing for Anagram Columbus Circle, a first-of-its-kind luxury rental tower located next to the highly acclaimed 15 Central Park West, between Manhattan’s famed Billionaire’s Row and Central Park, and acquiring 51 Irving Place, a mixed-use apartment building located near Gramercy Park.

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