The Real Deal New York

Windermere owner seeks hotel conversion

May 13, 2011 05:35PM

The long-decrepit Windermere in Hell’s Kitchen will finally undergo a makeover — in form and function. According to DNAinfo, Mark Tress, who purchased the building in 2009, plans to convert the vacant apartment complex at 400-406 West 57th Street, near the corner of Ninth Avenue, into a boutique hotel. But because of its location in the Special Clinton District, zoning laws require that any rehabilitation include affordable housing units. Tress couldn’t come to an agreement with Project Find, the not-for-profit previously responsible for overseeing the affordable units, so he’ll work with the Metropolitan Council on Jewish Poverty to reconcile the dilemma. Tress hopes to attract European travelers to the building, which as recently as 2007, was in such a state of disrepair that the previous owner, Tao Construction, had to pay nearly $4 million in penalties and lawsuits related to the building’s conditions. [DNAinfo]

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