DLJ Real Estate Sells Nine Orchard Hotel on Lower East Side for $92M
By Isabelle Durso August 26, 2025 3:10 pm
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DLJ Real Estate Capital Partners has off-loaded a landmarked hotel on Manhattan’s Lower East Side for $92 million, according to city records made public Tuesday.
DLJ, through the entity Nine Orchard Partners, sold the 113-key Nine Orchard hotel at 9 Orchard Street to Austin-based hospitality group McGuire Moorman Lambert Hospitality (MML), which used the entity Nine Orchard Owner, records show.
The address listed in property records for the sale was 8 Allen Street, but the property has alternative addresses of 54-60 Canal Street and 5-9 Orchard Street, according to the documents.
Carmine Fanelle, a managing director at DLJ, signed the deal for the seller, while Larry McGuire, a co-founder and partner at MML, signed for the buyer, records show.
A spokesperson for MML did not immediately respond to a request for comment, while a spokesperson for DLJ could not be reached for comment. New York-based writer Emily Sundberg first reported the news of the buyer.
The Nine Orchard hotel opened in June 2022 in the landmarked former Jarmulowsky Bank Building, which was built in 1912 and was renovated over several years after DLJ bought it in 2017 for an undisclosed amount.
Nine Orchard was named one of the best new hotels in the world by Travel + Leisure in 2023 and has hosted celebrities such as Zendaya, Tom Holland and Ayo Edebiri.
With the new deal, MML will acquire all of Nine Orchard’s on-site restaurants, which include Corner Bar, Swan Room and Blue Room, Eater New York reported.
It’s unclear why DLJ is selling the hotel between Division and Canal streets, but news of the sale comes after DLJ sold another Manhattan hotel — the Kimpton Hotel Eventi in Chelsea — to Blackstone for roughly $175 million in January, as Commercial Observer previously reported.
There was another recent hotel sale in the Financial District, where Hawkins Way Capital bought the Holiday Inn-turned-migrant shelter at 99 Washington Street from GF Hotels & Resorts for $154.5 million, CO reported.
Isabelle Durso can be reached at idurso@commercialobserver.com.
