**Hotel Hugo Secures $52M Refinancing in Manhattan’s Hudson Square**
BridgeInvest has provided a $52 million loan to refinance Hotel Hugo, a boutique hotel located at 525 Greenwich Street in Manhattan’s Hudson Square neighborhood, just west of SoHo. The independently managed hospitality asset was developed from the ground up in 2014 by the current sponsor, who continues to own and operate the hotel.
The refinancing comes as Hudson Square experiences significant growth, buoyed by the recent openings of major campuses from tech giants Google and Disney. The sponsor aims to leverage this momentum to enhance the property’s position within the competitive Manhattan hospitality market.
Hotel Hugo stands 19 stories tall and features 122 guest rooms. The ground floor includes 2,000 square feet of retail space, currently leased to specialty coffee brand Felix Roasting Co. The property also boasts two well-known rooftop venues: Bar Hugo, a stylish indoor lounge on the 18th floor, and Bar Azul, an open-air rooftop bar on the 19th floor, both popular among locals and tourists.
The refinancing transaction was facilitated by brokerage firm JBA Equities, which helped expedite the closing timeline to meet the borrower’s refinancing deadline.
This move positions Hotel Hugo to capitalize on the rapid evolution of the Hudson Square neighborhood and maintain its status as a prominent boutique destination in Lower Manhattan.
