|First photo of Starwood Capital's & Tribeca 53rd Street hotel project.|
Tuesday, 21st June 2011
Source : Andrew Calvo ~ Passions Of A Zealot
On a whim I went to check out Tribeca Associates website to see if they had any information on the 53rd St Hotel Project they are working on with Starwood Capital.
If you recall this is the property that once was home to the New York Public Library’s Donnell Branch, and was originally sold to Orient Express for a hotel project. After Orient Express could not fund the development project, Starwood Capital & Tribeca Associates bought the project and made plans to tear down the existing building and continue the original plans to construct a hotel.
There is no information on branding of the property – which is of special interest to those who follow Starwood Capital & Barry Sternlicht – so no word on if it will be a “Sternlicht inspired” hotel (eg – 1Hotel or Baccarat),or if it will be a Hyatt or other established brand. But they did have a picture, and some basic facts – 340,000 sq ft, 120 key 5-star hotel, and another 140,000 sqft of residential with hotel amenities.
It’s difficult to tell just by the appearance of the building – but it does show a few elements which could be unique – an outside pool deck area mid-building and a grassy/tree-filled terrace on the upper third of the building as well.
Starwood Capital’s Other NYC Hotel Projects
A news channel reported that Barry Sternlicht recently stated that he has three hotel projects currently on the drawing board in NYC: The Donnell/Tribeca Associates project mentioned above, the conversion of 1414 Ave of the Americas, and another unannounced project that he’s keeping close to the vest.
Once again, there is no word or indication as to the brands of these hotels – will they be Starwood Capital brands, or will they be branded with other well established luxury brands?
I’m thinking that these projects will be some type of new or unique brand to Starwood Capital because typically they will not make a big deal in the press or market about “just another hotel transaction”. I’m sure we’ll find out one way or another over the next few months.
Andrew Calvo is a Commercial Real Estate Advisor in New Jersey. I live in Tinton Falls, NJ. This blog is about my passions - primarily hotels, commercial real estate, and development, etc.
Since I have been in High School I've had numerous jobs, but the field which has always interested me is Real Estate, Hotel Development and Construction. I consider myself a zealot in that area - I try to absorb as much as I possibly can, take the experiences that I learn, or read about and use them in my life.