From left: Ian Schrager, the lobby of his Public hotel in Chicago and 855 Sixth Avenue
Ian Schrager will bring his first Public Hotel to New York at a Herald Square site being developed by Durst Fetner Residential, the Wall Street Journal reported. The plan calls for a 250-room hotel on the 16 lower floors of a Cook + Fox Architects-designed 56-story residential building at 855 Sixth Avenue Near 30th Street.
“The boutique [hotel market] is overcrowded now and very competitive,” Schrager said. “People are now just replicating someone else’s idea, only in a different color.”
Public New York will charge about $300 per night and have a 10,000-square-foot restaurant, nightclub and bar, a gym and an outdoor garden. Tenants of the 40 stories of rental apartments above the hotel will have access to those amenities. Durst Fetner expects the one-bedroom and two-bedroom units to rent monthly for $4,500 and $6,500, respectively.