Manhattan’s Fourth Avenue sees high-end rebirth

TRD New York /
Jan.January 18, 2013 10:00 AM

With new projects such as 51 Astor Place and the Hyatt Union Square, Fourth Avenue is being reincarnated as a high-end neighborhood, the Wall Street Journal reported.

The Hyatt Union Square, which is yet to announce an opening date, will offer 178 upscale rooms and suites starting at $319 a night. It is located at East 13th Street, north of the Fumihiko Maki-designed 51 Astor Place, a 13-story mixed-use office and school building being developed by Minskoff Equities.

Those familiar with the area, however, say that the transformation has been in the works for a while. “We get to exist between those two great areas of traffic: Astor Place and Union Square,” James Woods, the general manager of Royal, a posh new sports bar at 127 Fourth Avenue, told the Journal. “And we don’t have to cater to NYU kids. We’re seeing a rise in customers who are successful professional 30-somethings who are done with that college scene.”

The East Village, once known for its grit, has recently experienced a surge in residential construction and prices, as The Real Deal previously reported. [WSJ]Hiten Samtani


Related Articles

arrow_forward_ios
35 Jay Street and Edward Minskoff (Credit: Patrick McMullan/Patrick McMullan via Getty Images, Google Maps)

Edward J. Minskoff Equities buys Dumbo property for $62M

Edward J. Minskoff Equities buys Dumbo property for $62M
Edward Minskoff and his 1166 Avenue of the Americas (Credit: Getty Images and Wikipedia)

Wells Fargo lends $245M for Minskoff tower

Wells Fargo lends $245M for Minskoff tower
Hyatt buying lifestyle hotel chain Two Roads

Hyatt buying lifestyle hotel chain Two Roads

Hyatt buying lifestyle hotel chain Two Roads
Asset manager leaves Hudson Yards for Astor Place

Asset manager leaves Hudson Yards for Astor Place

Asset manager leaves Hudson Yards for Astor Place
Placeholder image

Landmarks approves Minskoff’s Jane Street megamansion

Landmarks approves Minskoff’s Jane Street megamansion
Landmarks again withholds OK of Minskoff’s Jane St. plans

Landmarks again withholds OK of Minskoff’s Jane St. plans

Landmarks again withholds OK of Minskoff’s Jane St. plans
Johnson & Johnson opening new lab in Minskoff’s 101 Sixth

Johnson & Johnson opening new lab in Minskoff’s 101 Sixth

Johnson & Johnson opening new lab in Minskoff’s 101 Sixth
Minskoff signs fintech firm to 39K sf at 1166 Sixth Ave

Minskoff signs fintech firm to 39K sf at 1166 Sixth Ave

Minskoff signs fintech firm to 39K sf at 1166 Sixth Ave
arrow_forward_ios

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

Loading...