Hotel East Houston Sells for $16.75M, Rechristened ‘Ridge Hotel’
On the occasion of its tenth year in the neighborhood, the Hotel East Houston just changed hands. Former owner Jin Sup An (also behind the 36 Hudson Hotel) parted with the property two weeks ago for $16.75 million, according to public records.
The transaction is about $5 million less than the asking price when the property last hit the market in November 2011.
Buyer of record is one Steven Oved of GPS Realty, and he apparently wasted no time in changing the name (OK Houston Hotel LLC). Seemingly overnight, the lodge was rebranded as the Ridge Hotel, and part of the CS Hospitality Group. (Nowhere near Ridge Street, of course.)
And in related news, the new owner seeks to impart an on-premise bar, potentially on the rooftop (a repeat of the 2012 application?). Naturally; this is just off Hell Square, after all. There is a liquor license application currently on file with Community Board 3 that will be reviewed at next month’s SLA subcommittee meeting.
Stay tuned on that front.