Vornado Realty Trust and the LeFrak Organization plan to build a “seven-star hotel” on the site of iconic Rizzoli Bookstore, Vornado CEO Steven Roth said at a panel talk today.
The developers filed plans in May to demolish the bookstore at 31 West 57th Street. It was reported at the time that high-rise condominiums would rise on the site, but instead, Roth said, it will be a commercial use. Vornado’s priorities have largely been retail and office development in recent years.
After 29 years, the bookstore closed in April, but is set to reopen in NoMad next year, reports said.
Manhattan Borough President Gale Brewer had rallied for the city Landmarks Preservation Commission to designate the property a landmark, but the commission denied the bid. [WSJ] — Mark Maurer