Moin Development and SBE have received a $109 million loan for their planned SLS Hotel at 444 Park Avenue South, in NoMad, Commercial Observer reports. The former 14-story office building is being expanded to 20 stories and converted to 190 hotel rooms; multiple restaurants are also planned. Fortress Investment Group provided the loan, which recapitalizes and restructures existing debt. Completion is slated for Spring 2016.
The planned nine-story, 108-unit Hyatt Hotel at 27-07 43rd Avenue, in Long Island City, is now one floor above street level, according to The Court Square Blog. The building will measure 49,590 square feet in total. The developer, Prakash Patel, originally planned a residential project for the site, but filed new permits in 2014 for a hotel. The building is now expected to be complete in early 2016, and Michael Kang is the architect of record.
The narrow blocks next to the Fulton Transit Center are about to get a little more crowded, now that plans have been filed for a 26-story hotel at 143 Fulton Street, between Broadway and Nassau Street.
Kushner Companies and RFR Realty are teaming up with Ian Schrager to develop a Public Hotel at the six-building Dumbo Heights redevelopment, in Dumbo, according to the New York Post. At 90 Sands Street, the 30-story, 508-room Jehovah’s Witness residential hotel could to be transformed into a nearly 600-key hotel, with up to 100,000 square feet of amenity and meeting space.
With the first of Related’s Hudson Yards towers now inching towards its pinnacle, it should come as no surprise that other developers with nearby sites are also beginning to move ahead with plans of their own. Kuafu Properties and Siras Development are building a 700-foot tall 42-story mixed-use tower at 470 Eleventh Avenue, between 37th and 38th Streets, and YIMBY has a fresh set of close-up renderings that also show some slight modifications to the “lantern-inspired” design.