Dan Hotels acquires the NoMo SoHo hotel in New York City for $125 million, representing the company’s expansion into the US market. Dan Hotels acquired the hotel from Sapir Corp. Other terms and conditions were not disclosed. Proskauer advised Dan Hotels on its acquisition.
NoMo SoHo hotel is located at 9 Crosby Street in Manhattan. The hotel rises 26 floors and includes 264 rooms and suites. The property has the NoMo Kitchen restaurant, the Sip Happens café, meeting rooms and a fitness center, and has panoramic views of the New York City skyline. Dan Hotel plans to renovate the property in the coming months.
The Proskauer team was led by partner Yuval Tal, who co-heads the firm’s real assets and lodging and gaming practices, and partner Mark Rutter. The team also included associate Sean Khoury (real estate); Charles Dale (restructuring); Michael Lebowich (labor); and Steven Weinstein (benefits and compensation). A team from Firon Law Firm led by Dana Firon-Gross served as co-counsel.