NEW YORK—November 11, 2015—CIM Group announced today that it has acquired the Martha Washington Hotel and an adjacent land parcel located in Manhattan’s NoMad district with plans to convert the existing 12-story, 256-room hotel into The Redbury Hotel New York. The rebranded hotel will feature The Redbury’s award-winning boutique design, authentic bohemian counter-culture aesthetic, and curated hospitality amenities.
Situated on 29th Street between Madison Avenue and Park Avenue South, The Redbury New York will be at the heart of one of Manhattan’s fastest growing neighborhoods and the hub of the City’s creative and tech industries. It will also be surrounded by some of the City’s most well-known boutiques, restaurants and bars and within a short walk to Madison Square Park, the Flatiron District, the Empire State Building, and other exciting attractions. The property features the renowned restaurant, Marta, an upscale pizzeria by Chef Nick Anderer and Danny Meyer’s Union Square Hospitality Group, which will continue as the hotel’s food and beverage purveyor.
CIM identified the NoMad District, as well as the Gramercy/Flatiron District, as a qualified community that possesses the attributes that fit CIM’s investment model, which focuses on urban districts positioned for economic expansion with solid infrastructure and transportation networks. CIM has been involved in the New York metropolitan area for more than a decade, and has made investments in the community including 11 Madison, One Madison Park, and 225 Fifth Avenue. Some of CIM’s other New York City investments include 432 Park Avenue, 737 Park Avenue, Halcyon (at 305 East 51st Street), 100 Barclay, 2 Rector and 15 William.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in five strategic categories: repositioning and development projects, well-positioned operating properties, value-add properties, debt, and infrastructure. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area, Bethesda, and Dallas. For more information, please visit www.cimgroup.com.