Mr. C Seaport Hotel Sells to Sono Hospitality for $60 million
By Mark Hallum January 20, 2023 8:07 am
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The Mr. C Seaport at 33 Peck Slip in — you guessed it — the Seaport District sold for $60 million earlier this month.
A shell corporation with an address tied to South Korea-based Sono Hospitality Group’s Gunju Hwang purchased the property on Jan. 9 from Bob Ghassemieh’s Atlantic Pearl Investments, which acquired it for $38.3 million in early 2016, according to property records made public Thursday. The Real Deal first reported the sale.
Mr. C Seaport is a 66-room boutique hotel that opened in 2018 under a brand created by the Cipriani family. Atlantic Pearl later repositioned the property to reduce the number of rooms from 72 to create larger spaces for guests, according to JLL (JLL), which brokered the sale.
“The sale of the Mr. C Seaport is a true testament of the lodging market’s recovery, specifically in New York City,” JLL’s Jeffrey Davis, who represented the seller alongside Stephany Chen and Harry Keeshan, said in a statement. “Investors continue to focus on strategic acquisitions in the city as the market outperforms.”
Sono’s plans to ditch the Mr. C name, but it’s unclear what will take over for the hotel, TRD reported. Sono and Atlantic Pearl could not be reached for comment.
The hotel at the corner of Peck Slip and Front Street is a New York City Landmarks Preservation Commission protected site that was built in 1856, according to Joseph Pell Lombardi, an architecture firm that at one point in time helped renovate the building into residential lofts.
Mark Hallum can be reached at mhallum@commercialobserver.com.
