Hotel

730 Fifth Avenue

Office-to-Luxury Hotel-Residential Conversion Planned at Crown Building in Midtown

In early 2015, Wharton Properties and General Growth Properties (GGP) acquired, for $1.75 billion, the Crown Building – a 25-story, 385,600-square-foot multi-use commercial building – at 730 Fifth Avenue, located on the corner of West 57th Street in Midtown. Now, it’s been disclosed that developer Michael Shvo and Russian investor Vladislav Doronin are planning to acquire a large portion of the building for a mixed-use conversion project, the New York Post reported. The duo want to convert the upper floors of the current office building into an Aman hotel and 23 ultra-luxury condominium units. Wharton and GGP recently bought out the last remaining office tenant. The current owners plan to lease the remainder of the property that isn’t sold to Doronin and Shvo as retail. The retail space is currently being newly renovated and is expected to take up at least the first four above grade levels. Late last year, it was reported that Bulgari signed a 15-year lease on the ground floor.

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4729 Third Avenue

First Look at Nine-Story, 86-Key Holiday Inn Express, 4729 Third Avenue, Belmont

Back in December of 2015, YIMBY reported on applications for a nine-story, 86-key hotel at 4729 Third Avenue, in Belmont, located two blocks south of the Metro-North Railroad’s Fordham station. Now, Michael Kang’s Flushing-based architecture firm has revealed colored schematic drawings of the project. It can also be revealed that InterContinental Hotels Group will be the hotel operator and is planning a Holiday Inn Express. The structure, which will rise on a 6,229-square-foot triangular lot, will encompass 43,789 square feet. Guest amenities will include laundry facilities, a fitness center, a business center with meeting rooms, a breakfast area, luggage storage, and parking for four bikes. Syosset, N.Y.-based Neelam Chadha is the developer. The property is currently occupied by a small single-story warehouse, and demolition permits were filed in December.


577 Ninth Avenue

28-Story Hotel-Residential-Retail Project Rises to 14th Floor at 577 Ninth Avenue, Hell’s Kitchen

Back in June of 2014, YIMBY revealed renderings of the planned 28-story mixed-use building at 577 Ninth Avenue (a.k.a. 400 West 42nd Street), located between West 41st and 42nd streets, on the southern end of Hell’s Kitchen. Construction has since kicked off at the site and the building is now 14 stories above street level, as seen in a photos posted to the YIMBY Forums. New details on the project have also been disclosed by The Real Deal. Once complete, the 218,872-square-foot building, dubbed Pod Times Square, will feature a 665-key hotel, 48 residential units, and 25,000 square feet of retail space across the cellar through second floors. The building will be operated by BD Hotels under the Pod Hotels brand. The apartments will be rented fully furnished by the hotel as Pod Pads. The one- and two-bedroom apartments will be located on the 23rd through 27th floors and will measure between 400 and 800 square feet apiece. Guest amenities include storage for 52 bikes, a lounge, private storage rooms, a fitness center, laundry facilities, and an indoor/outdoor recreational area on the 28th floor. Friedman Group and Landis Group are the developers, while SLCE Architects is the architect of record. Completion is expected in 2017.


38-42 11th Street

Reveal for 10-Story, 133-Key Extended-Stay Hotel Planned at 38-42 11th Street, Long Island City

In September of 2014, YIMBY reported on applications for a 10-story, 133-key hotel planned at 38-42 11th Street, in the Ravenswood section of Long Island City, located four blocks from the 21st Street-Queensbridge stop on the F train. Now, a rendering of the project has been revealed in a report by The Real Deal. The latest building permits indicate the hotel, which will be an extended-stay one by Marriott’s TownePlace Suites, will encompass 69,045 square feet. If the project’s 50,457 square feet of commercial space is exclusively representative of the hotel units, individual rooms should average a relatively spacious 379 square feet apiece. Guest amenities include a fitness center, laundry facilities, a lounge and breakfast area, a garden area behind the building, a bar, a rooftop terrace, a 21-car garage on the ground floor, and storage for five bikes. Midtown Properties is the developer and Think! Architecture and Design is behind the architecture. Foundation work is reportedly underway at the site, and completion is scheduled before 2017.


112-120 East 11th Street

85,000 Square-Foot, 300-Key MOXY Hotel Planned At 112-120 East 11th Street, East Village

This morning, we had hotel news for you. Now, we have more. In April, Lightstone Group acquired, for $127 million, a six-building, 181-unit residential portfolio for that comprises of 112-120 East 11th Street and 85 East 10th Street, in the East Village. The developer is currently planning to build a 85,000-square-foot, roughly 300-key boutique hotel at 112-120 East 11th Street, according to The Real Deal. Marriott International’s MOXY Hotels will be the operator. The five-story buildings at 112-120 East 11th Street currently contain 75 residential units across five buildings and are expected to be demolished. The other six-story, 106-unit building at 85 East 10th Street will remain and is expected to be sold off. The April acquisition was financed with an $85 million loan. The five apartment buildings at 112-120 East 11th Street represented $52.1 million, while the six story property at 85 East 10th Street traded for $75.4 million.


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