Nightclubs give way to new developments on West 27th Street

TRD New York /
Jun.June 23, 2011 11:20 AM

alternate
text
From left: FLANK at 520 West 27th Street, Chelsea Muse at 537 West 27th Street and +aRt at 540 West 28th Street

Where loud clubs such as Pink Elephant, B.E.D. and Bungalow 8 once thrived on West 27th Street, development is rising from their ashes and capitalizing on the quiet gallery scene just south. According to the Wall Street Journal, the rezoning of West Chelsea from West 16th to 30th streets in 2005 was key to the transformation of 27th Street between 10th and 11th avenues. And now the fruits of that rezoning are becoming ripe. The first new development was FLANK at 520 West 27th Street, an office building that opened in 2009 and became home to a shoe company, galleries, a fashion agency, an architecture firm and Alicia Keys’ recording studio. The +aRt condominium, which has frontage on West 27th Street despite its 28th Street address, hit the market in March, and just yesterday the Chelsea Muse began leasing its units. The 56-room Hotel Americano will be complete in a matter of weeks and is preparing for a soft launch in August. The hotel will have a French restaurant, a Mediterranean Grill, two bars and a cafe. The developments can thank a community board that became frustrated with the clubs and raised objections with the State Liquor Authority, which ushered out the clubs. In a sign of the transforming area, art dealer Paul Kasmin, who used to party at Bungalow 8 in his younger years, now has plans to open a sculpture gallery in the club’s former space at 515 West 27th Street. [WSJ]


Related Articles

arrow_forward_ios
Investors worry that New York City’s battered commercial real estate sector is indicative of larger issues nationwide with hotels, restaurants and retail. (iStock)

New York’s CRE woes could spread nationwide: investors

New York’s CRE woes could spread nationwide: investors
Magna CEO Robert Indeglia with the Courtyard by Marriott 307 West 37th Street and the Fairfield Inn & Suites at 325 West 33rd Street (Google; Magna)

Magna Hospitality emerges as New York’s hotel vulture

Magna Hospitality emerges as New York’s hotel vulture
Ashkenazy Acquisition's Ben Ashkenazy and Marriott East Side at 525 Lexington Avenue (Google Maps)

Lawsuit accuses Marriott of misappropriating funds at East Side hotel

Lawsuit accuses Marriott of misappropriating funds at East Side hotel
Ian Schrager and the Pulic Hotel at 215 Chrystie Street (Getty; Google)

$60M mezz loan on Ian Schrager’s Public Hotel is for sale

$60M mezz loan on Ian Schrager’s Public Hotel is for sale
The Martinique hotel (Wikipedia, Google Maps)

Operator of Martinique Hotel in Manhattan files for bankruptcy

Operator of Martinique Hotel in Manhattan files for bankruptcy
Courtyard by Marriott in Herald Square and Marriott CEO Arne Sorenson (Google Maps, Getty)

Courtyard by Marriott in Herald Square to close permanently

Courtyard by Marriott in Herald Square to close permanently
From left: Embassy Suites at 60 West 37th Street, Ashford Hospitality Trust CEO Douglas Kessler, Magna Hospitality Group CEO Robert Indeglia and Royalton Hotel at 44 West 44th Street (Ashford, Magna Hospitality, Google Maps)

Royalton, Garment District hotels sell at discounts

Royalton, Garment District hotels sell at discounts
Hilton CEO Christopher Nassetta and the hotel at 234 West 42nd Street (Google Maps; Getty; Hotel Planner)

Hilton Times Square to close permanently

Hilton Times Square to close permanently
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...