On June 27, 2007, Pryor Cashman client Craig D. Wood and his Cape Advisors, Inc. organization (www.capeadvisors.com) closed a $195 million financing of its building at 150 Lafayette and 9 Crosby Street in Manhattan. Wood, in conjunction with Morgans Hotel Group, will be building a 274 key luxury hotel on the site with a scheduled Fall 2009 opening under the Mondrian flag of the Morgans Hotel Group. To read the press release, please click here.

Pryor Cashman partner Thomas Malmud led the representation of the owners, assisted by partners Richard Levy, Marc Brodsky and Tina Moss and associates Steven Fields, Joshua Lake, Dallas Albaugh and Laura Treanor.

The acquisition was noted in the June 28, 2007 edition of The New York Post, where Braden Kell reported that “a new Mondrian Hotel is coming to SoHo” and that “the ultra-hip inn at 150 Lafayette St. will have 270 guest rooms, a glamorous restaurant, ballroom, exercise club and a penthouse suite with outdoor party space.” The article noted that the hotel will be a “spinoff of the glamorous Hollywood original.” To read the article, please click here.