9 Crosby Partners Acquires NYC's Former Mondrian SoHo & Rebrands as NOMO SOHO

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. April 07, 2015

New York, NY - April 7, 2015 - A Partnership between ASRR Capital, Alex Sapir and Rotem Rosen's publicly traded Israeli Company, and Gerard Guez has announced the launch of a new independent luxury property, NOMO SOHO. Formerly known as the Mondrian SoHo and located at 9 Crosby Street in Downtown Manhattan, NOMO SOHO, which is in the process of transitioning management, will pay homage to its historic neighborhood while bringing a distinctively modern hospitality experience to Manhattan. As an abbreviation for "nostalgic + modern," the term NOMO sits at the intersection of vintage and cutting edge, both associated with the style of its location. The property and its namesake celebrate the original spirit of the area-known for its artistic origins, cast iron architecture and cobblestone streets-while blending the culture and fashion of today's digital age.

Completed in 2012, the property was purchased by a partnership between fashion mogul and Buddha Bar founder Gerard Guez and the real estate group ASRR Capital LTD in early March 2015.

Tucked away on a quiet street in SoHo, the 263-room hotel will be part of Preferred Hotel & Resorts' "Lifestyle" collection. Its acquisition by ASRR Capital is part of the organization's decision to expand their luxury hospitality portfolio. Graham Leslie, Head of Hospitality and NOMO SOHO's Chief Executive, will oversee the hotel's transformation, property management and re-launch. A seasoned hotelier, Leslie is responsible for starting the Conrad brand and has worked with some of the world's most exclusive, iconic properties-including the Plaza Athenee in Paris and The Hotel Adlon in Berlin.

"The acquisition of NOMO SOHO marks an exciting time for ASRR Capital. This gem of a property will be inspired by the diverse creative types who stay, work and play in this neighborhood," Leslie imparted. "With our guests' progressive personalities and styles in the forefront of our minds, we're eager to revamp the experience into a curated environment for all who walk through our doors."

NOMO SOHO boasts luxurious guestrooms, all with floor-to-ceiling windows and stunning skyline views. Upon its full re-launch later this year, the property will become a modern interpretation of nostalgic SoHo. New amenities, programming and partnerships will satisfy guests and visitors of all backgrounds, from fashion and design to finance, entertainment and A-list clientele. The hotel's restaurant and bar spaces will continue to innovate, with menus continually changing throughout the year. Located steps away from some of the city's most renowned shopping destinations, world-class art galleries, restaurants and bars, NOMO SOHO is a must-visit home away from home.

Reservations are available immediately. To learn more about the NOMO SOHO story, please visit www.nomosoho.com

About ASRR Capital LTD.

ASRR Capital LTD. Is a publicly held company traded on the TASE (Tel Aviv Stock Exchange). With multiple international holdings, it is ASRR Capital's goal to increase its operations in the United States by utilizing the experience and expertise of controlling shareholders Alex Sapir, President of The Sapir Organization and Rotem Rosen, CEO of The Sapir Organization. The Sapir Organization is a group of privately held companies, owned by Sapir family members. Collectively, this New York-based real estate Organization owns and manages approximately 6 million square feet of prime Manhattan commercial and residential space. Founded by Mr. Tamir Sapir, it owns and manages significant architectural landmarks throughout Manhattan, including 11 Madison Avenue, 2 Broadway, 260 Madison Avenue and 261 Madison Avenue. Additionally, the Organization has developed major iconic projects in Downtown Manhattan. The Sapir Organization continues to expand its international assets through strategic purchases in major real estate markets. The Organization's tenants and partners include Zuma, Eleven Madison Park, Credit Suisse, Sony, Coca Cola, William Morris Endeavor, Yelp, Chase, Signature Bank and Fidelity.