Owner of 3 Lower East Side Hotel is Not Looking to Sell [Updated]

Posted on: April 5th, 2022 at 5:00 am by

Update: a representative from Gatsby Enterprises confirms that “these assets are not on the market” and that the public listings we linked to are incorrect (and since taken down).

The Orchard Street Hotel, Redford Hotel (136 Ludlow), and The Gatsby (135 East Houston) are owned by real estate investor Nader Ohebshalom – together hit the open market last week. Asking price for the properties is, respectively, $25 million, $17.76 million, and $21.6 million.

The eleven-story Orchard Street Hotel spent some seven years in development before opening in March 2015. The development replaced a pre-war tenement at 163 Orchard.

The Redford hotel was born on the back of the Comfort Inn, which closed in October 2016 after the Ohebshalom acquisition. There has been a hotel on this spot for the last twelve years, having replaced a former laundromat.

The Gatsby on East Houston also underwent a few transformations over the years. It began life as a Howard Johnson Express, later morphed into the Gem SoHo, and finally became the current Gatsby in 2015.

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