**Boutique Hudson Square Hotel Secures $52M Refinancing**
BridgeInvest has successfully provided a $52 million loan to refinance Hotel Hugo, an independently owned and operated boutique hotel located at 525 Greenwich Street in Manhattan’s Hudson Square neighborhood, just west of SoHo.
The sponsor, who developed the property from the ground up in 2014 and has continued to manage it, aims to leverage the neighborhood’s rapid growth. The area’s expansion is being propelled by the recent opening of major corporate campuses from tech giants Google and Disney.
Hotel Hugo comprises 122 guest rooms across 19 stories. On the ground floor, the property features 2,000 square feet of retail space, currently occupied by the upscale coffee shop Felix Roasting Co. The hotel also houses two rooftop venues: Bar Hugo, an enclosed space located on the 18th floor, popular among locals, and Bar Azul, an open-air outlet on the 19th floor offering panoramic views.
The refinancing deal was arranged by brokerage firm JBA Equities, which facilitated a swift closing process in order to meet the sponsor’s refinancing deadline.
