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Old Posted Apr 13, 2012, 4:09 AM
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Smile NEW YORK | 133 Greenwich St | 356 FT / 108 M | 30 FLOORS

http://www.globest.com/news/12_327/n...St-320501.html

Hidrock JV to Develop $100M Hotel at 133 Greenwich St.

By Jacqueline Hlavenka
April 11, 2012

Quote:
Catering to the re-emerging tourism market in Lower Manhattan, a joint venture of Hidrock Realty and the Robert Finvarb Cos. are developing a $100 million Downtown hotel near the World Trade Center site, GlobeSt.com has learned. Slated to open in early 2015, the companies are planning to build a 30-story, 300-key tower at 133 Greenwich St. just a block south from the 9/11 Memorial.

The 135,000-square-foot development will most likely be a flagged hotel, though a brand has not yet been chosen, according to Abraham Hidary, president of Hidrock, who tells GlobeSt.com that Lower Manhattan has “all the ingredients” for a great new development site. “What’s being built in Downtown Manhattan is a city within a city,” he says. “It’s probably going to be one of the most sophisticated, beautiful and modern cities ever built, and our site is right in the center of all that action.”

The project comes at a time when tourists are continuing to flock to the Financial District. According to the Alliance for Downtown New York, Lower Manhattan attracted 9.8 million visitors to its major museums, events and attractions in 2011, marking an 8% increase from 2010. In addition, the National September 11 Memorial Plaza, which opened in September, attracted one million visitors in its first 3.5 months. And once the National September 11 Memorial Museum opens in 2013, Hidary predicts that tourist activity will increase even further -- which will result in a need for more hotel rooms.
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