The Texas-based firm, MML Hospitality, has completed its acquisition of Nine Orchard, the high-end hotel in the former Jarmulowsky Bank Building. The $92 million deal closed on August 20 and the signed documents appeared in city records today.
DLJ Real Estate Capital Partners purchased the property and a neighboring building back in 2012 for $41 million. Over the years, the owners completed a painstaking and costly restoration of the 1912 Beaux Arts beauty, which was designated a New York City landmark in 2009.
There have been signs for quite awhile that the hotel was about to change hands. Back in June, Community Board 3 considered an application for a change of management in Nine Orchard’s dining establishments. There was speculation in Eater about star Chef April Bloomfield potentially leading a revamp of the Corner Bar, as well as the other bars and restaurants within Nine Orchard. Bloomffield recently signed on with MML as executive chef. And the other day it was all confirmed by Emily Sundberg (Feed Me), who published an interview with MML Hospitality’s Larry McGuire, discussing plans for the Lower East Side hotel.
In the interview, McGuire acknowledged that the food and beverage operation has been, “a little bit rudderless” since Ignacio Mattos departed the hotel in early 2024. He suggested that the new team would seek to re-focus not only the Corner Bar but the other dining and drinking spaces. McGuire said he spent time in “Dimes Square” back when he was living in New York, so he knows the neighborhood. Also, many of MML’s senior managers lived in New York before going to Austin to work for his firm. McGuire said his team might not make any big changes for a year or so.
