Bangkok Bank Lends $65M on Standard International’s Manhattan Hotel Buy
Standard International has secured $65 million of acquisition financing for its purchase of a boutique hotel in Lower Manhattan, property records show.
Bangkok Bank provided the loan for Standard’s purchase of the 97-key Sixty SoHo hotel at 60 Thompson Street, according to property records made public on Friday. The hotel operator was in contract in early February to buy the asset from the Pomeranc family’s Sixty Collective for $106 million, The Real Deal previously reported.
Located between Broome and Spring streets, the 14-story story Sixty SoHo first opened in 2001 when it was known as the 60 Thompson Hotel. The 56,000- square-foot property was rebranded in 2013 as Sixty SoHo following a multi-million dollar renovation.
Standard, which is run by CEO Amber Asher, also operates Manhattan boutique hotels the Standard High Line at 848 Washington Street and the Standard East Village at 25 Cooper Square. The Manhattan-based company owns 19 hotel and food and beverage properties around the world including the Standard Spa at 40 Island Avenue in Miami Beach.
Officials at Bangkok Bank and Standard International did not immediately return requests for comment.
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