Furnished Quarters to manage hotel at 70 Pine

Extended-stay units and part of rental component to open by fall

70 Pine Street (via Flickr) and Adam Rose
70 Pine Street (via Flickr) and Adam Rose

Rose Associates and DTH Capital have inked a contract with Furnished Quarters to operate their extended-stay hotel at 70 Pine Street.

The 66-story landmarked hotel in Lower Manhattan will hold 132 hotel rooms when it opens in the fall. The first batch of the 664 high-end rental apartments on the upper floors of the property is also expected to be available at that time. The hotel component will run from floors three through six in the building, which is now under construction.

Furnished Quarters is a Manhattan-based manager of extended-stay hotels.

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In 2012, Rose secured a $300 million construction loan for the $550 million conversion of the tower, as previously reported. [NYP, 1st item]Mark Maurer