180 Orchard Street (credit: PropertyShark)

Demolition at 180 Orchard Street between East Houston and Stanton streets is now underway, making room for the Indigo Hotel, Bowery Boogie reported. Currently, the site contains an incomplete two-story building, which is being dismantled by remote-controlled demolition robots, Department of Buildings records indicate. [more]

218-222 West 50th Street

Brack Capital Real Estate has joined a European hotel partner to develop a 78,000-square-foot hotel at 218-222 West 50th Street in Times Square, the company announced today. Sidney Rosenthal of Grubb & Ellis represented both the buyer and the seller. “This acquisition is unique, as this $50 million development project will be built and all funds are already in place for its completion within two years,” said Issac Hera, CEO of Brack Capital. Plans for the site — which is currently a multi-story parking facility — have not yet been announced. TRD … [more]