Flushing-based Marx Development Group reacquired, for $35 million, the development assemblage at 450 Eleventh Avenue, located on the corner of West 37th Street in the Hudson Yards District, in 2013. Since then, the developer purchased 35,550 square feet of development rights for $7 million, and now new details of the planned hotel have been revealed by The Real Deal. Planned is a 42-story, 440-key Starwood Hotels & Resorts Worldwide hotel. The tower will measure roughly 213,300 square feet and will feature 3,000 square feet of ground-floor retail space. DSM Design Group is designing the project. Groundbreaking is expected later this year, and opening is slated for 2019. Two low-slung commercial buildings – at 448-452 Eleventh Avenue – must first be demolished.
A northern New Jersey community is getting its first new full-service hotel since the last one closed in 1938. On Tuesday, a groundbreaking ceremony was held for The MC hotel in Montclair. That’s in Essex County.
It was in March of 2015 when YIMBY last brought you a construction update on the 30-story, 317-key Courtyard Marriott under development at 133 Greenwich Street, in the Financial District. At the time, the project was 18 stories above street level. Since then, the structure has topped out and has received much of its façade elements, as seen in photos by Tectonic. The building’s windows are all in place and paneling is currently being installed on its southern face. In all, the building measures 151,282 square feet. There will be retail space on the ground floor, with the hotel taking up the rest of the building. A fitness center will be located in the cellar, followed by a restaurant on the sixth floor, and a rooftop bar and terrace on the 28th floor. Hidrock Properties is the developer, while Danny Forster Design Studio being responsible for the design, with Peter Poon Architect serving as the architect of record. Completion can be expected later this year.
The 30,102-square foot lot between 41-02 and 41-10 Crescent Street, under the permit address of 41-08 Crescent, has been cleared for construction of an 189-foot-tall, 17-story mixed-use residential and hotel project. It is being developed by Forte Italia LLC, with Bayside-based Park Side Construction Builders serving as the general contractor. Dan Ionescu Architects is in charge of the design. The site is owned by Flushing-based TPEC Management. Completion is anticipated in 2020.
Last year, residential development in the South Bronx was booming. This year, builders are looking at their future tax bills – without the 421-a tax break – and realizing that it’s safer and cheaper to build hotels than apartments.