Real Estate Tycoon Chetrit Buys NYC’s ‘Dirtiest Hotel’ for $180M

Source: Jewish Voice NY

New York real estate mogul Joseph Chetrit has purchased the infamous Hotel Carter for over $190 million. The once Times Square flophouse has been coveted by numerous hotel operators, developers, and investors around the globe. Joseph Chetrit was born in Morocco and has his roots in his family’s textile industry; he later became an investor and took up real estate. According to people familiar with the matter, last month he signed a contract to acquire the 600-room building on 43rd Street in Manhattan.
Over the years, Chetrit has earned an impressive portfolio consisting of commercial real estate in New York and throughout the U.S. Last year, he headed a consortium in the acquisition of the Sony Building in Manhattan for $1.1 billion. He plans to turn part of the property into condominiums. Read full story

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