The Real Deal New York

Sternlicht’s Midtown development to be flagged with luxury Baccarat brand

April 17, 2012 09:00AM

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From left: Barry Sternlicht and the former Donnell Library at 20 West 53rd Street (building credit: PropertyShark)

Barry Sternlicht’s Starwood Capital, along with Tribeca Associates, is bringing the five-star hotel brand Baccarat to Midtown. According to the New York Post, the partnership will flag the fourth through 12th floors of its 45-story development project at 20 West 53rd Street with the hotel name.

The bottom floors will be home to a new, 29,000-square-foot Donnell Library, which was originally located at the site before it sold the property to Orient-Express Hotels, which in turn flipped it to Starwood and Tribeca Associates last year for $67.4 million. The upper floors will be condominiums and the project is slated to open in 2014.

The Post said Sternlicht has long tried to bring the Baccarat brand, which Starwood licenses, to Manhattan. No renderings have been released for the project, but Starwood commissioned Enrique Norten to design the $400 million development.

As previously reported, the developers went on an air rights buying spree in order to secure 340,000 square feet of development rights at the site, across the street from the Museum of Modern Art. [Post, 1st item]

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