From left: 7 Sylvan Way and 22 Sylvan Way

Mack-Cali Realty said it will build a new 203,000-square-foot office building for Wyndham Worldwide,
a move that will allow the hotel chain to consolidate its Parsippany, N.J.-based headquarters into one
corporate complex.

Wyndham currently operates from its 250,000-square-foot corporate headquarters at 22 Sylvan Way in
Parsippany and a separate 146,000-square-foot building at 7 Sylvan Way. Wyndham will move all of the roughly about 700
employees out of the latter building and into the new tower, which is set to debut adjacent to 22 Sylvan
Way by late 2013.

“It was always a planned approach to have the two buildings next to each other,” Wyndham spokesperson
Michael Valentino told The Real Deal. [more]

Wyndham Hotel Group’s under-construction flagship select-service hotel, called TRYP New York City-Times Square South, received a $13.6 million mezzanine loan late last month after the construction lender shut off funds for the project, officials said.

Boston-based UC Funding provided the loan — its first ever loan in New York City — to complete the 173-unit property, located at 345 West 35th Street. The deal will allow the developers to buy the necessary fixtures and equipment for the property and get a certificate of occupancy from the Department of Buildings. [more]

From the November issue: When Fashion 26 opens its doors this December, one young hotelier may
have white knuckles: The spot is the first that Steven Kassin, the
24-year-old Infinity Group principal, has led from start to finish.
“It’s my baby,” Kassin said of the Garment District hotel at 152
West 26th Street, on the corner of Seventh Avenue. “I’m young and I
can’t afford to mess up.”
Kassin, who’s been working with the Infinity Group since graduating
with his bachelor’s and master’s degrees from New York University at
age 20, is heading up the $90 million project, in partnership with CPI,
Citigroup’s real estate private equity group. Rooms start at $275 per
night.