Construction has officially topped out on TSX Broadway, a 46-story mixed-use hotel tower at 1568 Broadway in Times Square. Designed by Perkins Eastman and Mancini Duffy and developed by L&L Holding Company and Fortress Investment Group, the 470-foot-tall structure will yield 550,000 square feet with a 669-key hotel, retail space, restaurants, and an outdoor performance venue that overlooks Times Square. The building will also serve as the new home of the historic Palace Theatre, which is being raised 30 feet to make room for ground-floor retail space. The project is projected to cost $2.5 billion and debut early 2023.
Façade work is wrapping up on 456 Greenwich Street, an eight-story hotel building in Tribeca. Designed by Stephen B. Jacobs Group with Martin Brudnizki Design Studio as the interior designer, and developed by Caspi Development, the 94,000-square-foot structure will yield 96 Art Deco-inspired guest rooms operated by Groupe Lucien Barrière of the Hôtel Barrière Le Fouquet’s Paris. AECOM Tishman is the general contractor for the Lower Manhattan development, which is bound by Greenwich Street to the east, Desbrosses Street to the south, and Washington Street to the west.
An affiliate of GFI Capital Resources has secured $195 million in refinancing for The Beekman, a historic landmarked hotel in Manhattan’s Financial District. The deal included a $130 million senior loan with Bank OZK arranged by Newmark and a $65 million subordinate financing raised from bond investors on the Tel Aviv Stock Exchange.
Construction is complete and occupancy has begun at 140 West 28th Street, a 46-story dual-brand Marriott Hotel tower in Chelsea. Designed by Gene Kaufman Architect and developed by Sam Chang of the McSam Hotel Group, the 470-foot-tall tower yields 173,000 square feet and 531 guest rooms split between a 284-room Springhill Suites and a 247-room Townplace Suites. Omnibuild served as the general contractor for the project, which is located between Sixth and Seventh Avenues in the Flower District of Midtown, Manhattan.
Construction is wrapping up on 150 West 48th Street, a 38-story triple-brand Hilton hotel tower in Times Square. Designed by Gene Kaufman Architect and developed by Sam Chang of McSam Hotel Group, the 418-foot-tall, 320,000-square-foot structure will yield 1,046 hotel rooms across a Hampton Inn, a Home 2 Suites, and a Motto Hotel, Hilton’s newest brand of micro-hotels. McSam Hotel Group purchased the Midtown, Manhattan site from Rockefeller Group in early 2019 at a cost of $140 million and received a $250 million loan before construction broke ground in 2020. Omnibuild is in charge of erecting the tower, which is located by the corner of West 48th Street and Seventh Avenue.