Fortuna pays $12.75M for site
Fortuna Realty Hotel SoHo LLC plans to build a 124-key, 20-plus story hotel at 523 Greenwich St., between Spring and Vandam, in New York’s SoHo. The hotel developer acquired a 50,000-sq.-ft. site for that building from Patriot 523 Greenwich St. LLC for $12.75 million.
“Zoned for manufacturing and commercial uses, the highest and best use for this land is to develop a hospitality project,” says Alan Miller, principal and senior director for Eastern Consolidated Inc., the firm that coordinated the sale.
Details about the timing of the planned hotel’s construction and opening were not disclosed.
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