Ben Ashkenazy, founder and CEO of Ashkenazy Acquisition, has secured an $85 million refinancing deal for the Arthouse Hotel New York City, located on the Upper West Side. Citi Real Estate Funding provided the five-year loan to refinance the 16-story, 300-suite boutique hotel.
The Arthouse Hotel, originally built in 1919 and rebranded several times before its acquisition by Ashkenazy in 2013, takes up more than 175,000 square feet and has a community bar, Redfarm Chinese eatery and Serafina Italian restaurant. The hotel is two blocks from Central Park.
Ashkenazy Acquisition invests in landmark assets, continues to focus on strategic growth and development within the hospitality sector. Ashkenazy Acquisition's portfolio includes New York’s Plaza Hotel, Rivercenter in San Antonio and Bayside Marketplace in Miami.