Manga Hotels Buys SoHo 54 Hotel From Lam Generation for $56M
By Isabelle Durso February 20, 2025 5:05 pm
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Manga Hotels has purchased the 160-key SoHo 54 Hotel for $56 million, according to city records made public Thursday.
Manga, through the entity Mango SoHo, bought the 19-story hotel at 54 Watts Street from Lam Generation, which used the entity SoHo 54, records show. Jeffrey Lam, founder and CEO of Lam, signed for the seller, while it was unclear who signed for the buyer.
“Manga Hotels has had a presence in the U.S. since 2001, but this marks the first foray into New York City with our fourth property in the state of New York,” Sukhdev Toor, president and CEO of Manga, said in a statement. “We are thrilled to bring the Toor Hotel Collection to this cosmopolitan city, offering a distinctive and inspired experience for the modern traveler.”
Colliers brokered the deal. A spokesperson for Colliers did not immediately respond to a request for comment, while Lam could not be reached for comment.
Manga, which owns and operates 33 hotels across the U.S., said it plans to feature a fitness center, outdoor terrace, and meeting and event spaces at its new SoHo hotel. While it won’t be the Canadian hotelier’s first New York spot — it owns properties in Buffalo and Albany — it will be the first in the country to carry its recently launched Toor Hotel Collection name, the company said.
The hotel between Varick Street and Avenue of the Americas was last sold in 2005 for $4.8 million, records show, making the latest purchase a big return on investment for Lam.
But the SoHo 54 Hotel had some grisly recent history after a man was arrested in Arizona in connection with the murder of a woman in the hotel’s Room 1109, The New York Times reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
