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Thread: NYC Hotel News

  1. #556
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    At what point does this become a menace to the city?

    I think they razed a charming 5-story 19th century building for this disgusting thing.

    There may have been more but it's hard to tell from the tiny photos on propertyshark.

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    Quote Originally Posted by Stern View Post
    This has to be a conspiracy. I couldnt design something so bad, if I tried. Tiny windows, salt and pepper, and green bricks! I seriously think this is a conscious effort to produce the very worst possible.
    Why do they even provide renderings? God, its so terrible to look at, no detail no nothing, just bland walls. Terrible. These people should be debarred or something.

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    Tomorrow I am going to email Amanda Burden this and other renderings from this criminal. I'm also going to invite her to wirednewyork. This cannot continue. This is the most historic part of the city, and one of the most historic spots in the country and world. How do we let a design like this pass under the radar?

    It is simply unacceptable. Wyndham hotels are just as much at fault for actually putting their name on this monstrosity.

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    ^ The sad part is that this is just one of many McSams going up or will go up soon.

    Don't forget to mention this nutcase's affinity for creating setbacks from the streetwalls on his buildings.

    How many cities out there would allow you to build this sort of garbage in the heart of their financial district?

    This thing is rubbing shoulders with some of the most recognizable and well respected buildings in the world. Unbelievable...

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    Oh, one more thing that I almost forgot.

    Also don't forget to mention their plans to tear down 50 Trinity for another one of his hotels:


  6. #561

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    It reminds of this housing project in Fort Greene:


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    ^ It's got Kaufman's trademark.

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    This week's Crains (i.e., April 9, 2007) states that Marriot is building a new time share on 44th and 5th. Although it states that it's on Fifth, it must be the new building that's rising between 5th and Madison in the 40's. I think it's on 44th.

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    Quote Originally Posted by sfenn1117 View Post
    Tomorrow I am going to email Amanda Burden this and other renderings from this criminal. I'm also going to invite her to wirednewyork. This cannot continue. This is the most historic part of the city, and one of the most historic spots in the country and world. How do we let a design like this pass under the radar?

    It is simply unacceptable. Wyndham hotels are just as much at fault for actually putting their name on this monstrosity.
    She wont be responding, she is a idiot believe me ive had dinner with her

  10. #565
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    Riding a High, Hospitality Industry Pushes Even Higher


    BY MICHAEL STOLER
    April 12, 2007

    New York City's hospitality industry "is on fire," the global chairman of brokerage services at CB Richard Ellis, Stephen Siegel, said. "People from around the world want to visit New York," he said, and, of course, they all need places to stay.

    More than 8,000 rooms are in various stages of planning throughout the city. Supply cannot meet the demand, which has been created by the more than 41 million visitors to the city in 2006. According to industry leaders, 44 million visitors — a record number — are expected this year, helping to fuel the hospitality fire.

    Owners and operators in the hospitality sector are saying they have not experienced such impressive cash flow, hotel property selling prices, and availability of financing for close to a decade. "One of my clients who operates a four-star hotel says cash flow from operations increased from $12 million to $45 million in less than two years," the chairman of the national real estate practice at Greenberg Traurig, Robert Ivanhoe, said.

    Even after several years of positive growth, real estate experts say the market is improving so far in 2007. "Occupancy levels have been close to capacity for the second year in a row, and room rates had another year of double-digit growth," the president of Lodging Advisors, Sean Hennessey, said. "In light of this, more and more people assume the pace of improvement must moderate. And yet, for the first quarter of 2007, occupancy is up about 1 percentage point over last year, and room rates are up 12%. The reality is that the hotel market is getting stronger, not weaker."

    A senior managing director who specializes in the hospitality industry for CB Richard Ellis, Daniel Lesser, agreed. "The Manhattan hotel market is white hot, with demand for hotel rooms far outstripping supply," he said. "During the past several years, several thousand hotel rooms have been lost from the city's inventory due to the conversion of existing hotels to residential use. As good as hotel economics have been in New York with high levels of occupancy, and strong increases in average rates, residential economics have until recently been even better. As the New York lodging market continues to experience increases in average rates, and as the robust residential market slows down a bit, we are now seeing in several cases that hotel economics begin to ‘pencil out' the feasibility of new hotel development."

    Rising rates have netted big profits for some developers. "Hotel business is booming and transaction prices are reaching new highs with every sale," a principal at BD Hotels, Richard Born, said. "We have been inundated with offers ranging from $500,000 per room for three-star products to over $1 million for higher-end hotels. We have been tempted and have fantasized about selling everything and sailing into the sunset, but for now we plan to hold onto our assets."

    A number of years ago, a joint venture of our company and investors paid about $7 million for the 170-room Metro Hotel at 45 West 35th Street, or approximately $41,176 per room," Mr. Bonn continued. "We have been offered more than $500,000 per room, or $85 million."

    In the fall, a former partner and executive vice president at Tishman Hotel Corp. and Anglo Irish Bank, Timothy Haskin, formed Peninsula Real Estate Fund I LP and Peninsula Real Estate LLC. The entity acquired the Beekman Tower Hotel and Eastgate Tower Hotel for about $420,000 a room. "Market performance is exceeding our underwriting, and we are planning significant upgrades to both assets that will commence in the very near future," Mr. Haskin said.

    "The hospitality market in New York continues to be extremely strong with demand from all segments outpacing supply. We are looking to acquire additional assets at this time," he added.

    "Developers are looking for opportunities to build lodging facilities throughout the entire metropolitan region," the chairman of Metropolitan Valuation, Marty Levine, said. "Most of the hotels now under construction are either limited service, such as those being built under Fairfield Inn, Comfort Inn, Holiday Inn Express, or are smaller boutique hotels with branding such as the Standard, aLoft, etc. It is interesting that there are virtually no new luxury hotels planned, except for the reopening of a much smaller Plaza."

    "We are in the process of building more than 25 hotels, with a total cost of $1.2 billion and plans to spend an additional $1.1 billion for hotel projects in the pipeline," the chairman of McSam Hotels, Sam Chang, said. McSam hotels under construction range between 110 rooms and 400 rooms, and they are in every borough except the Bronx. The majority of the projects are limited service, including at least half a dozen boutiques located in Union Square, Midtown, and Lower Manhattan.

    "For hotels, I would view the Midtown luxury market as the strongest in the region, perhaps in the country," a managing director with Cushman & Wakefield, Eric Lewis, said. "Supply and demand for that submarket continues to strongly favor owners, resulting in revenue per room gains so far this year of nearly 20%. The Midtown south select service market is witnessing a large share of new supply entering the market; however, given the overall strong fundamentals, I don't see that as a problem at this point."


    STRONG FINANCING


    An influx of capital into the New York real estate market is driving the hotel market. "The availability of funds both on the debt and equity side from the plethora of lending institutions and opportunity funds for hotel projects in the Big Apple is plentiful," the principal of Eastern Consolidated, Alan Miller, said. "Numerous groups are seeking to be part of the tremendous wave of hospitality demand we are experiencing from the construction of ground-up hotels or the conversion of existing buildings to the repositioning of certain hotel assets."

    Mr. Lewis added: "The market is awash in capital chasing hotels. The industry has accepted hospitality as a major food group and that combined with every good supply, demand fundamentals has made financing properties much, much easier."

    Mr. Miller continued: "All capital sources are extremely aggressive today when it comes to putting together some sort of financing package to help carry out a hotel development."

    "The hospitality finance market continues to be strong, however borrowers should seek professional advice to get the best possible transaction," a partner at Sonnenblick-Goldman, Mark Gordon, said. "Each transaction redefines the financing market and you need to be actively in the market on a daily basis to structure the best possible transaction."


    WIDESPREAD DEVELOPMENT


    More than 50 hotel developments are in planning stages all over the city. At least three new W hotels are planned, for Lower Manhattan, downtown Brooklyn, and possibly in Harlem.

    "With the strong need for more rooms in Manhattan, coupled with the fact that there are no longer any ‘undesirable' neighborhoods, the entire island south of 125th Street from river to river represents a good hotel site," Mr. Lesser said.

    "With regard to Harlem, one or two hotels should be built and likely will over the next three to five years," Mr. Gordon said.

    A number of hotels are opening on the Lower East Side and the Bowery. Last month, the 17-story, 135-room Bowery Hotel opened at 335 Bowery at East 3rd Street. A few months ago, the same development team opened the Lafayette House Hotel, a 14-room hotel at 38 E. 4th St. between Bowery and Lafayette Street in a former five-story townhouse. At 250 Bowery, PMA Associates and Flank Architects are building a 63-room, eightstory condo hotel at Prince Street. The Peckmoss Group is developing the Cooper Square Hotel, a 23-story building on the corner of the Bowery at 5th Street.

    Highgate Holdings is planning to convert the Chinatown Holiday Inn at 138 Lafayette St. into a boutique hotel. Less than a block away, Cape Advisors will be transforming 150 Lafayette St. into a Mondrian Hotel. A local developer is planning to add 15 floors to a 12-story building at Howard and Grand streets in SoHo. A joint venture of the Bayrock Group, Zar Realty, and the Trump Organization is building the Trump Soho, a 42-story development on Varick Street.

    In Midtown, a number of hotels are planned. They include a Courtyard by Marriott at the corner West 54th Street and Broadway by developer Harry Gross. Extell Development is planning a 55-story condo hotel mid-block on West 45th Street near Broadway. A joint venture of Horizon Global and a real estate investment fund is planning to build a boutique hotel on West 48th Street at 11th Avenue.

    In January, BD Hotels converted the 346-room Pickwick Arms hotel into the POD hotel. The hotel is targeted at individuals who want to stay in a room for less than $200 a night in Midtown Manhattan.


    CAUTION ADVISED


    Nevertheless, industry leaders say they are only cautiously optimistic.

    "The pipeline of hotels is probably at an all-time high, which might lead to increased competitiveness and price wars," Mr. Hennessey said. "It will likely hurt those hotels that have benefited from the compression of Manhattan's demand. The greater risk that the city's economy falters and that many of the newly minted hoteliers don't realize is that a small drop in revenue can cause a huge drop in profitability."

    Mr. Lewis added: "At this point in the market, demand is so strong that any hotel put up is filled almost immediately. A market this strong can hide almost any mistake; be it location, design, financing, service, or quality. When the slowdown eventually comes, a reverse ripple effect is expected whereby the properties living off of the Manhattan displaced demand, particularly those without adjacent commercial development, will feel the downturn first. Similarly, boutique properties which are well-located but don't hit the mark on service, style, or design will slow the effect before the better properties."

    As long as the economy continues to surge and visitors rush to New York City, the future is bright for the hospitality industry. Yet one must remember that, as the president of Essex Capital Partners, Mitch Rutter, said, "Hotels are operating businesses, and each day the owner wakes up having to fill the rooms."


    © 2007 The New York Sun, One SL, LLC.

  11. #566
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    Quote Originally Posted by kliq6 View Post
    She wont be responding, she is a idiot believe me ive had dinner with her
    Ouch!

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    Hakimian Group Announces Details of 75 Wall Street Luxury Condominium Residences

    Hyatt to Manage 250-Suite Hotel Under its New 'Andaz' Brand


    Soaring 42 stories above Lower Manhattan, 75 Wall Street is the modern-day gateway to New York's famed financial district. When the transformation of this rose-colored brick tower from office building to condominium residences and a luxury hotel is completed in 2008, the former downtown headquarters of JPMorgan Chase will be the largest residential and multi-use project south of Canal Street.

    75 Wall Street defines world-class luxury living with an abundance of amenities and a full-service lifestyle. 350 luxury condominiums comprise the upper 24 floors while 250 hotel suites in the lower portion of the building will be managed by Hyatt Corp. under its newly launched luxury lifestyle brand, Andaz. The word Andaz means personal style. This new luxury hotel brand expresses individual style and personal independence in an environment of casual elegance. It offers local personality, innovative design and a relaxed atmosphere, plus unpretentious, responsive, personalized service.

    The award-winning architectural design firm The Rockwell Group, has been engaged to reconfigure the interiors and public spaces for both the residences and hotel including the grand lobby designed as a three-story, light-filled atrium with separate entrances for hotel guests and condominium residents.

    The residences at 75 Wall Street are bright, open and airy. Loft-like layouts range from traditional studios to oversized studios with studies, one bedroom, and onebedrooms with study, two bedrooms, two bedrooms plus den, and three bedrooms. The dramatic duplex penthouses feature custom-built library walls, fireplaces and terraces with wetbar. All homes are enhanced by 10' ceilings, 9'x7' picture windows and cerused oak flooring throughout as well as a custom built overhead storage system that maximizes the use of space. Dramatic open-plan kitchens are illuminated by glass tile backsplashes and lacquer and glass cabinets. Hotel-quality baths are covered from floor to ceiling in stellar white marble. The master baths display handcrafted custom double vanities.

    World class amenities abound at 75 Wall Street. Residents will enjoy integrated hotel services including room service, catering, housekeeping, valet laundry and valet parking as well as a full-time personal concierge. Condominium residents will also have access to 30,000 sq. ft of lifestyle amenities. These begin at Club 75 on the 18th floor, which provides a wealth of relaxation options such as a cardio fitness center, massage treatment room, media room with video/TV projection, and a dedicated game room, all with inspiring views. The 42nd floor rooftop is the hub of activity where indoor and outdoor lifestyle amenities meet. Features including a solarium and lounge, sandy 'beach,' hot tub, hammocks, barbecue grills and an indoor/outdoor fireplace along with 360-degree views make life at 75 Wall an urban retreat. The enclosed section houses the Rockwell-designed lounge, kitchen and fireplace for year-round enjoyment. 75 Wall Street will also feature a large indoor garage.

    75 Wall Street enjoys the unique context as the only freestanding building on Wall Street with 360-degree views, light and air. The Rockwell Group celebrates the ideas of contemporary luxury through natural materials and textures. Design elements for the hotel lobby include large windows that open onto the landscaped park between Pearl and Water Street. Light-infused materials such as back-mirrored glass and custom light fixtures create a warm and inviting atmosphere highlighted by a central dramatic organic staircase that leads upstairs to the hotel restaurant, bar and lounge and downstairs to the hotel's conference rooms and spa fitness center. The residence lobby is enhanced by an open fireplace, and seating islands designed for easy conversation and socializing.

    75 Wall's prime location at the corner of Wall and Water Street bordered by Pearl Street, places it at the epicenter of the Financial District, one of New York City's fastest growing residential neighborhoods. It is being developed by The Hakimian Organization along with partners, Peykar Brothers Realty & Gorjian Properties.

    Occupancy scheduled for Summer 2008.

    2007-04-23 Development

    © 1998 - 2007 Hotel News Resource

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    More on 75 Wall Street from http://cityrealty.com/new_developments:

    The Rockwell Group designed hotel and condos at 75 Wall Street 19-APR-07



    The 36-story tower at 75 Wall Street will contain a 250-room hotel that will be managed by the Hyatt Corporation under its recently launched luxury lifestyle brand, Andaz, which means "personal style," and 350 condominium apartments.

    The building was built in 1987 and occupies the Wall Street blockfront between Pearl and Water Streets and it is not far from the South Street Seaport. It was designed by Welton Becket Associates as an office building and Schuman Lichtenstein Claman & Efron (SLCE) is the architectural firm for the conversion. The Rockwell Group is designing the interiors and public spaces for both the residences and hotel.

    J.P. Morgan Chase bought the building from Barclays Bank in 2004 and a December 21, 2005 article in Real Estate Weekly in 2005 indicated it was purchased by the Hakimian Organization and Peykar Brothers Realty for $185 million. Gorjian Properties is a partner in the development.

    The bank had agreements with two of the largest tenants in the 640,000-sq.ft. building - Dresdner Kleinwort Wasserstein and Fireman's Fund Insurance Co. - to buy out their leases, which expired last year.

    In their excellent book, "The A.I.A. Guide to New York City, Fourth Edition" (Three Rivers Press, 2000), Elliot Willensky and Norval White commented on the building noting that "A deep, generous entrance arch through a flamed granite base offers a promise, but the flat detailing above doesn't deliver," adding that "The park provides the obligatory waterfall, but little to promote pedestrian serenity."

    Apartments will comprise the upper 24 floors and will have 10-foot-high ceilings and "a custom-built overhead storage system that maximizes the use of space. Open-plan kitchens will have glass-tile backsplaches and lacquer and glass cabinetry and baths will have white marble walls. Duplex penthouses will have fireplaces, custom-built library walls and terraces with wetbars.

    Residents will have hotel services including room service, catering, housekeeping, valet laundry and parking, a concierge, Club 75, a facility on the 18th floor with a cardio-fitness center, massage treatment, media room and game room, and a rooftop solarium and lounge and indoor-outdoor fireplace. The Rockwell Group has designed the Chambers Hotel on West 56th Street, the W New York and W Union Square hotels, and the Ertegun Jazz Hall of Fame at the Time Warner Center.

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    Greenhouse 26 To Open As New York's First Green Boutique Hotel

    Greenhouse 26

    April 25, 2007

    New York – Greenhouse 26, the first green boutique hotel in New York City, will open at 132 W. 26th St. in Spring 2008. Blending first-class amenities with progressive environmental initiatives, Greenhouse 26 will apply for Leadership in Energy and Environmental Design (LEED) Gold status, establishing that hotels of all sizes can be successfully green.

    Sustainability has been an integral part of the development and design process for developers Jack Ancona, who has been in the New York City real estate industry for over 50 years, and Flatiron Real Estate Advisors LLC. With the belief that outstanding design is inherently green, the 28-room hotel will marry contemporary decor with LEED Gold-standard conservation of energy, electricity, water, materials and waste.

    Pioneering the use of geothermal energy, Greenhouse 26 will be the first hotel in New York City to utilize a geothermal heating and cooling system. The 19-story building is the ideal size for this technology, which requires a 1,500-foot deep underground well for every six to 10 stories. Energy and cost savings are estimated at 40 percent.

    “There is a misconception that a development must be large to be environmentally and economically viable,” said architect Arpad Baksa, of Arpad Baksa Architect, P.C., designer of Greenhouse 26. “Green is about working with the space you have and customizing every inch to be efficient. Size only impacts the methods by which you achieve your goal.”

    Greenhouse 26 will also be the first building of any type in the U.S. to use thermal breaks on room terraces. The thermal barrier prevents guest room terraces from conducting outdoor heat or cold inside, thereby maximizing insulation.

    Previously the site of a four-story, mixed-use building, Greenhouse 26 is being constructed with eco-friendly, non-toxic building materials that will be sourced locally. Integrating the most advanced green practices in the hotel industry, notable features include: an energy-regenerating elevator system, a superior heat recovery system, an advanced air circulation and filtration system and bi-level lighting in corridors and stairways.

    “Because my family – wife Arlene, sons Steve and Robert and daughter Sari – and I are so committed to the green movement,” said Jack Ancona, “we hope this avant-garde project will serve as a role model for future green hotels.”

    “Going green is about reducing environmental impact during development and investing upfront to conserve in the future, without sacrificing the luxuries we associate with hospitality,” said Steve Ancona, president of Flatiron Real Estate Advisors. “In many cases the hotel experience will be improved by sustainable design.”

    Occupancy sensors for individual rooms will have the dual function of saving energy and providing customized room illumination for guests. While dimming the lights when rooms are empty, the sensors will also alert staff when to clean rooms without disturbing occupants.

    Spacious, 300-square-foot rooms will feature triple-paned, operable windows, elegant terraces and advanced entertainment systems, with iPod docks, movies and internet access. Four full-floor suites will be created on the top floors and may attract longer stays. Rooms will be stocked with certified organic products including soaps, towels, robes and mattresses, all of which will be available for purchase. Room rates will be competitive.

    Putting Greenhouse 26 on the Chelsea hotspot map, the 500-square-foot, first-floor roof will provide a lush green outdoor roof garden for guests and New Yorkers alike. A bar/cafe will exclusively serve innovative organic food and drinks, for example, guests can anticipate the launch of the clean martini, the ingredients of which are currently under wraps. Framing the entrance to Greenhouse 26 and running the length of the building will be a stunning front garden visually greening the passage into New York’s newest and most stylish green space.

    “Greenhouse 26 is a revolutionary concept for a mid-sized hotel and we hope to set a trend for others to follow suit,” said Jack Ancona. “Guests can support the environment by staying at our hotel and sending a message to all cities – green is the new gold.”

    Copyright © 2007 LexisNexis, a division of Reed Elsevier Inc.

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    Rendering from the architect's website
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