Solly Assa and Assa Properties to Develop Third Cassa Hotel & Residences


-- Cassa Puerto Vallarta will be Developer’s First International Cassa-branded Property for Real Estate Developer Solly Assa --

Assa Properties, founded by real estate developer Solly Assa, announced today plans to develop its third Cassa-branded hotel and residential property, which will be located in Puerto Vallarta, Mexico. Cassa Hotel & Residences at Puerto Vallarta (Cassa Puerto Vallarta) will be developer Solly Assa’s first condo-hotel project outside of the United States. The total project cost is estimated to be around $150 million to $200 million.

Unlike Assa Properties’ two other Cassa developments in New York City, Cassa Puerto Vallarta will be in the resort-style to take full advantage of its surroundings. Cassa Puerto Vallarta will rise in a prime location on the Pacific Ocean amid the mountains and coastline of the popular Mexican city. The property will offer approximately 300 condo units and 150 hotel rooms.

“Keeping in line with the Cassa brand – a combination of ‘Casa’, home in Spanish, and Assa – Cassa will be a ‘home away from home’ for guests and residents in Puerto Vallarta,” said Solly Assa. “Cassa is a world-class, luxury brand offering seamless accommodations for people seeking this type of lifestyle. We look forward to expanding the Cassa brand and bringing this resort and condominium development to Mexico.”

Similar to Cassa NYC andCassa Times Square, Cassa Puerto Vallarta will provide resort guests and residents with top-of-the-line amenities such as hotspot restaurants and bars, maid service, child care and a fitness center. In addition, it will offer resort-centric amenities such as an outdoor pools, cabanas, a beach club, spa services and watersport rentals, among many other offerings, all of which will be available to residents a la carte. Residents will not have to pay a flat fee for amenities they might not otherwise take advantage of, therefore allowing them to only pay for what they want, when they want.

Additionally, as with all of Assa Properties’ Cassa locations, Cassa Puerto Vallarta is situated among the very best of its location. It will be surrounded by pristine beaches and easily accessible to water sports, nightlife, several restaurants and bars and boutique shopping, as well as cultural offerings of Puerto Vallarta.

“Cassa Puerto Vallarta is the first step in both our U.S. and international expansion of the Cassa brand,” added Solly Assa. “We are planning other Cassa’s in both the resort- and urban-styles and look forward to rolling those projects out in the near future.”

Assa Properties anticipates breaking ground in early 2019 and opening Cassa Puerto Vallarta by the end of 2020.

Solly Assa is the president and CEO of Assa Properties, a New York City-based luxury real estate development and investment firm with an eye towards building upscale retail, residential and hotel experiences.

Founded by Solly Assa and his brother Isaac,Assa Properties has been developing and investing in major residential, retail and commercial properties since 2000. The firm has acquired over three million square-feet of premier assets located throughout the United States and Mexico. Starting in 2002, Assa Properties began acquiring buildings within the New York City Area, namely 743 Fifth Avenue, 2 Herald Square and 6 Times Square -- originally the Knickerbocker Hotel built by John Jacob Astor -- in some of the New York City's most distinctive neighborhoods. They have since evolved their original vision with two developments: Cassa Hotel and Residences in Midtown Manhattan and Cassa Times Square Hotel and Residences, just south of Midtown West. Each project represents full-service luxury hotels and condominiums offering premium hotel services to their full-time residents.

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