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]

 

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