Boutique hotel coming to 57th St.

TRD New York /
Nov.November 27, 2007 10:53 AM

Prudential Douglas Elliman managing director Ilan Bracha is planning a 120-key Boutique Hotel For 57th Street, just west of Fifth Avenue.

The location is at 16-18 West 57th Street, between Fifth and Sixth avenues and near Bergdorf Goodman.

“It’s a great, great location for a boutique hotel,” said Frank Williams of Frank Williams & Partners Architects, the project’s architect.

Bracha purchased the 100,000-square-foot property in August for $60 million, city records show. Bracha’s development arm is called B & B Investment Group, Williams said.

The hotel will have rates of about $1,000 a night, Williams said.

Williams said plans call for 25,000 square feet of retail on the bottom three floors. Plans could include a single retailer, or a retailer and a restaurant.

Rent would be in the neighborhood of $1,000 a square foot.

Bracha was unavailable for comment.

At one point, plans for the site included a residential component.

“We’re not doing any residential now. It’s not large enough,” Williams said.

The building will house an 8,000-square-foot health spa, but no pool. Bracha is in contact with a major boutique hotelier to run the development, Williams said.

The current retailers at 16-18 West 57th Street include a Sleepy’s mattress store, Arthur Murray Dance Studios, Warren-Tricomi Salon and Metropolitan Antiques & Gems. They “are being bought out,” Williams said.

Construction is slated to begin in six months and will be completed 18 months later, said Williams, who was also one of the architects for the Four Seasons Hotel New York nearby on East 57th Street.

A little further west on 57th Street, Extell Development Company plans a five-star, luxury hotel on a site between Seventh and Eighth avenues, near Carnegie Hall, which is on the corner of 57th Street and Seventh Avenue. By Lauren Elkies


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Amazon CEO Jeff Bezos and Hudson Yards (Credit: Getty Images and Wikipedia)

Amazon takes big new office space near Hudson Yards

A&E Real Estate Holdings principal Douglas Eisenberg and the properties (Credit: The Rego Park 18 Portfolio)

Deutsche Bank provided A&E $97M in financing for big Rego Park buy

Billy Macklowe and Key Food at 120 Fifth Avenue in Brooklyn (Credit: Getty Images and Google Maps)

Billy Macklowe looking to break into Brooklyn

From left: Daniel Shirazi, and Robert Khodadadian, with 530 West 25th Street

Feil Organization buys Chelsea office building for $72M

Redwood Trust’s CEO Christopher J. Abate (Credit: iStock)

Wall Street is collecting rent payments

arrow_forward_ios