Cain International Close to Acquiring Dominick Hotel from CIM Group
Cain International Close to Acquiring Dominick Hotel from CIM Group
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July 9, 2025 | New York City
After years of speculation and sale attempts, CIM Group is reportedly close to finalizing a deal to sell the Dominick Hotel in SoHo to Cain International for more than $175 million. The 46-story, 391-key property—originally branded as the Trump Soho Hotel—has been under CIM’s ownership since it was acquired through foreclosure in 2014 and later rebranded in 2017 following the end of its licensing agreement with the Trump Organization.
Cain International, a firm with a growing luxury real estate portfolio, is expected to reposition the Dominick as part of its broader investment strategy. The company, led by CEO Jonathan Goldstein, has been involved in high-profile developments such as the Aman New York and the revitalization of the Beverly Hilton in California. This acquisition would mark another key addition to its expanding U.S. hospitality presence.
The Dominick Hotel last received a financial boost in 2022 when Ramsfield Hospitality Finance and Alliance Bernstein’s CarVal provided CIM with an $83 million refinancing loan. Despite previous attempts to sell the property in 2019 and again in 2022, this latest deal appears closer to completion.
The potential transaction comes as Manhattan's hotel market faces challenges from restrictive zoning regulations and declining room inventory. Since 2019, New York City has lost approximately 6,000 hotel rooms, many of which were converted into migrant housing. As a result, existing luxury hotel assets like the Dominick remain especially attractive to investors seeking long-term repositioning opportunities.
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