The Israeli Dan Hotels chain continues its international expansion and lands, for the first time, on American soil. The chain purchased the NoMo SoHo Hotel in Manhattan, New York, for $125 million from Sapphire Corp, in a deal that marks a significant breakthrough into the U.S. hospitality market.
The move comes shortly after Dan Hotels opened The Den Hotel in Bangalore, India, and continues the long-standing chain’s international expansion strategy.
Premium Location in a Coveted District
The NoMo SoHo Hotel is located at 9 Crosby Street in the Soho district, one of Manhattan's trendiest and most sought-after neighborhoods. The hotel features 26 floors with 264 rooms and suites and is housed in one of the tallest buildings in Soho, offering stunning city views.
The hotel includes the NoMo Kitchen restaurant, Sip Happens café, meeting rooms, and a fitness center. Its location in the heart of the coveted district places it close to a wide range of art galleries, luxury shops, and restaurants.
"The Dan Hotels Hospitality Experience"
Shlomi Tachan, CEO of Dan Hotels, expressed excitement about entering the American market: "We are proud and thrilled to enter the United States for the first time and announce the acquisition of the NoMo SoHo Hotel, located in Manhattan’s trendiest and youngest district. We plan to renovate the hotel and offer the ultimate service and hospitality experience for which Dan Hotels is known."
Gidi Federman, Chairman of Dan Hotels, added: "I welcome the decision to enter the U.S. hospitality sector. I am grateful to the entire team who worked tirelessly to finalize this deal."
Dan Hotels was represented in the deal by attorney Dana Piron-Gross, partner at Piron Law Firm, together with attorneys Yuval Tal and Mark Rutter from Proskauer in the U.S. The seller was represented by attorneys Andrew W. Albstein and Stewart Wolf from Goldstein Finkel Weprin Goldberg, LLP. The broker who facilitated the deal was Eastdil Secured.