Dolce Hotel in Norwalk Sold to New York Investor

The Dolce Hotel of Norwalk, Connecticut sold on June 4, 2018 for $16,000,000. The sprawling 3-building property, resting on 66.46 acres of land in western Norwalk, was purchased by New York-based Queens Plaza North, LLC. The buyer has re-branded the hotel and conference center as LaKota Oaks, and it will be under the management of LaKota Hotels & Resorts. The seller in the transaction was Broadreach Capital Partners.

The property has had a diverse mix of uses since the buildings were originally constructed in 1982, once serving as a seminary and then as training centers for GTE and Prudential. In 2003, Dolce Hotels and Resorts opened and the property has since been used as a hotel and conference center boasting 120 rooms, 20 high-tech collaborative meeting spaces, a 10,500 square foot event space, an indoor pool, fitness center, tennis courts, bar/lounge, and more. The three buildings, connected via suspended walkways, combine for a total gross building area of 153,226 square feet.

The business has suffered, however, in recent years and the new ownership will complete multi-million dollar updates and renovations to the hotel to coincide with the Lakota Oaks re-branding. The hotel will remain open throughout the scheduled updates, beginning in August 2018 and aiming to be completed by March 2019. Details of the work include renovations to the 240-seat ballroom, all common areas, and guest rooms.

Images of the property can be viewed in the slideshow below: