Fortuna locks down $65M construction loan for boutique Midtown hotel

Morris Moinian’s Fortuna Realty Group landed a $65 million construction loan from M&T Bank for the 176-key hotel the company is building south of Bryant Park. The project had originally been planned as an Aloft, but will now be an independent lodge called Hotel Hendricks. Fortuna closed today on the loan for the 30-story hotel […]

Morris Moinian wins auction for LES hotel site

From left: 139-141 Orchard Street, Morry Kalimian and Morris Moinian and a rendering of the hotel Morris Moinian and his investment partner were the winning bidders at a bankruptcy auction for a Lower East Side hotel development site, and will pay $30.75 million for the property.  “People were bidding $100,000 to $200,000 a clip, and […]