Fortuna In Focus

Our Path To Hospitality

Fortuna Realty Group was founded in 1984 by Morris Moinian, a successful NYC-based apparel industry executive. Since its founding, the company has amassed an extensive portfolio of commercial and residential properties in New York City, Los Angeles, South Florida and the Caribbean. Its hospitality portfolio includes more than 2,000 rooms, with an additional 3,000 rooms in the pipeline, complemented by successful high-end food and beverage outlets and restaurants.

The company is currently finalizing plans for two new hotel projects: 1150 Avenue of the Americas, a 50-story, $400 million hotel development, and 25 W. 38th St., a new 170-key hotel development located off Fifth Ave.

history

1980s

  • 1984 | Fortuna Realty Group founded with first acquisition, 1489 First Ave.
  • 1985 | Acquired 1661 First Ave.
  • 1985 | Acquired 1527 - 1529 - 1531 York Ave.
  • 1986 | Acquired 1963 - 1695 and 1699 Lexington Ave.

1990s

  • 1992 | Acquired Loews Paradise Island Hotel
  • 1994 | Acquired note on 60 Madison Ave.
  • 1994 | Acquired The Wyndham Sugar Bay Resort, U.S. Virgin Islands
  • 1997 | Acquired the Chemists Club (52 East 41st St.) and redeveloped as Dylan Hotel
  • 1999 | Acquired 127 W. 28th St.
  • 1999 | Sold Loews Paradise Island Hotel

2000s

  • 2000 | Dylan Hotel opened
  • 2004 | Acquired former Hyatt Orlando Resort with entitlements to develop 4.4 million SF of mixed-use space outside of Disneyworld
  • 2007 | Sold Dylan Hotel
  • 2007 | Acquired 129 W. 29th St. (100,000 SF office building)
  • 2007 | Acquired 112 9th Ave. (mixed-use/64-unit apartment and 6,000 SF retail)
  • 2007 | Acquired 215 W. 108th St. and 210 W. 109th St.
  • 2007 | Commenced construction of Hotel Indigo Chelsea
  • 2008 | Financed 52 W. 13th St., 859 Lexington Ave. via Fortuna Funding NY
  • 2009 | Hotel Indigo Chelsea opened
  • 2009 | Sold 129 W. 29th St.

2010s

  • 2011 | Acquired 523 Greenwich St.
  • 2011 | Sold Lower Harlem multi-family portfolio
  • 2012 | Acquired 1150 Avenue of the Americas
  • 2012 | Acquired the renowned Garden City Hotel, Long Island
  • 2012 | Acquired 25 W. 38th St.
  • 2012 | Sold Upper West Side and Chelsea multi-family portfolio