Moynihan retail, hotel in the works

TRD NEW YORK /
Oct.October 11, 2010 03:45 PM

A rendering of Moynihan Station

With the first phase of the $267 million Moynihan Station project set to begin this month, developers Related Companies and Vornado Realty Trust are turning their attention toward retail and hotel tenants, in an effort to round out the six-floor rail station project, according to Crain’s. A 200-room boutique hotel could call the eastern half of the building home, according to a Moynihan Station Development spokesperson, while the western portion of the building — now known as the James A. Farley Post Office — will contain retail shops. Big-box stores are expected to occupy the upper floors of the building, while smaller retailers may move in on the lower levels. If the boutique hotel works out, however, it could face some stiff competition — last month, a South Carolina-based hotelier OTO Development announced that it purchased a Penn Station-adjacent parcel of land for $21.9 million, where it plans to build a hotel of its own. [Crain’s]

 

Related Articles

arrow_forward_ios
Related's Jamar Adams and Steve Ross with 14-06 Gateway Boulevard (Credit: Getty Images and Google Maps)

Related is the latest developer to target the Rockaways

RCP CEO Richard O’Toole and Related CFO David Zussman (Credit: O’Toole via Westchester Magazine and Zussman via Related)

Related tries to calm Israeli investors after market panic

Related CEO Stephen Ross (Credit: Ross by Arturo Holmes/Getty Images; Wikipedia Commons)

Related’s Israeli bonds worry auditors as crisis worsens

Steve Ross, Eliot Spitzer and a rendering of 451 10th Avenue (Credit: Getty Images) 

Spitzer, Related land $276M in financing for Hudson Yards senior housing project

Governor Andrew Cuomo and a rendering of Penn Station (Credit: Getty Images, Governor's Office)

Eminent domain could be used for Penn Station plans thanks to clause in state budget

Jeff Blau (Credit: Getty Images)

Related’s CEO talks Hudson Yards and “complicated” projects

11 Penn Plaza and Apple CEO Tim Cook (Credit: Vornado, Getty Images)

Apple is in talks for a lease at Vornado’s 11 Penn Plaza

Related Chairman Stephen Ross (Credit: Getty Images, Wikipedia)

Related drops 700-foot-long “wall” from Hudson Yards plan

arrow_forward_ios
Loading...