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History of Tribeca Buildings
Nosy Neighbor: What’s happening at the Sonder / Duane Street Hotel?
S. wrote: “I was getting my nails done at the new spot where Rainbow Nails used to be on Church, and I happened to glance over at the old Duane Street Hotel since I saw a lot of action in the window. I noticed the beds were being made and also saw people sweeping and cleaning the dust from the windowsill. Also, people were hanging out inside the Modern Bagels store. Have they sold the property to a new hotel? Or they making this place something else?”
The Duane Street Hotel, 130 Duane at the southwest corner with Church, closed in May 2021, and in its place came Sonder, the short-term rental company that serves as a workaround for Airbnb. But Sonder went bankrupt last fall, closing this location in November, and I thought the place was empty — but a quick google got me to OYO Rooms — an Indian multinational hospitality chain that operates leased hotels, homes and living spaces. The company’s website said they “empower entrepreneurs and small businesses with hotels and homes by providing full stack technology that increases earnings and eases operations.”
This location is called the Belvilla District 6 Formerly Sonder.
The company was founded in 2012 is headquartered in Gurgaon, Haryana, India. As of January 2020, it has more than 43,000 properties and 1 million rooms across 800 cities in 80 countries.
A room with a king bed for Tuesday was $166; for Saturday it is $435.
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More importantly, what’s going on with Modern Bagels? Every time I walk by the corner, I feel awful for them. They were all set to open and then Sonder went belly up.
Cushman & Wakefield is the broker marketing 130 Duane Street for sale.
Asking Price: upon request
“[…] Ownership recently signed a brand new 15-year lease with PRISM to open and operate an OYO flagged hotel. The lease has an initial expiration in 2041 and carries an additional (5) year renewal option. OYO is one of the world’s largest branded hospitality and tech enabled companies with more than 157,000 locations. PRISM – OYO’s global parent company strengthens their already robust network and platform, encompassing G6 Hospitality, operators of Motel 6 and Studio 6. In addition to fixed annual rent, OYO pays for 91% of the Property’s real estate taxes over the base year (2026/2027) and is responsible for water, utilities and maintenance. The Property is especially unique as it is non-union.
“[…] The Property offers investors the opportunity to own a 100% leased, non-union, cash flowing property with national and multinational tenants on long-term leases. […]”