NEW YORK | 133 Greenwich St | FT | 30 FLOORS

[NYguy]

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

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.

[sbarn]

Interesting, looks like the SITE is already clear.

[NYguy]

With all of the hotels that have been and will be opening up around the WTC area, there may be no need for a hotel directly on site.

[reencharles]

Several new towers proposed in the Downtown / Lower Manhattan: 50 West Street, Nobu Tower, 99 Washington Street and others.

Last year also had a company that seems to have purchased the brick building "pink" next to this, and also the American Stock Exchange. Long time no hear any news about it. Speaking of which, the building next to this (O'Hara's Restaurant & Pub) is garbage. It should be demolished and replaced.

[NYguy]

http://www.cpexecutive.com/regions/n...pment-planned/

Downtown NYC Hotel Site Sells for $28M, $70M Development Planned





By Scott Baltic, Contributing Editor
April 24, 2012

A 6,160-square-foot hotel development site at 133-135 Greenwich St. in Downtown Manhattan has been purchased by Hidrock Realty for $28 million. Eastern Consolidated represented the seller and procured Hidrock as the buyer of the parcel, which is almost adjacent to the World Trade Center site. A luxury 150,000-square-foot, 33-story mixed-use building with a 28-floor, 300-room, $70 million hotel is slated for the site. The hotel is scheduled to open in early 2015, according to Eastern Consolidated associate director Robert Khodadadian.

The approved design plans for the project were created by Costas Kondylis and Partners, which also designed Manhattan residential condo towers Trump World Tower and The Atelier and, so far, five residential buildings at the 75-acre Riverside South project. The firm is also overseeing the restoration/renovation of The Plaza Hotel & Residences on Fifth Avenue.

[yankeesfan1000]

In comparison to the other hotels Lower Manhattan is getting, this is not that bad, plus it's only 30 stories. I am surprised that they say it's going to take almost three years to finish.

Just when you thought Lower Manhattan couldn't get any denser...

[patriotizzy]

Why can't there be a standard for architecture? It seems like a lot of NYC developments are the ugliest, blandest, lamest designs any city gets these days. Just look at other cities around the world, they don't see tall boxes anymore. I get that it's a cheap development, but they can try to make something out of little they can afford.

[aquablue]

Originally Posted by patriotizzy

Why can't there be a standard for architecture? It seems like a lot of NYC developments are the ugliest, blandest, lamest designs any city gets these days. Just look at other cities around the world, they don't see tall boxes anymore. I get that it's a cheap development, but they can try to make something out of little they can afford.

Really? Look at Japanese, German, English and Canadian cities, and you will see plenty of tall boxes going up. China is mostly boxes, you just focus on the outrageous designs and dismiss the rest. Why should a developer build just for aesthetic reasons if he risks losing money in the process. A box makes sense in terms of efficiency and cost. There's no design board reviewing proposals in NYC for the most part that could dictate policy. This is a free market, and they build what makes financial sense first, aesthetics most likely are not as important as the bottom line in most cases.

[NYguy]

It's a 30-story hotel, I don't see a problem with it. It could just as easily be a residential tower. It won't have a presence at all on the skyline. I could see wishing for something more if it were on of the city's taller buildings, but for what it is, pretty decent.

[reencharles]

I liked ... Simple but good.

[RobertWalpole]

Lame.

[sbarn]

^^ Agreed. Although I can't decide whats more lame, the actual building or the render. At least it doesn't look like a horrible zebra like its nearby soon to be Holiday Inn neighbor.

[yankeesfan1000]

From an encouraging NYTimes article, Reins Easing on New York Construction Loans.

"Abraham Hidary, the president of Hidrock Realty, for example, is negotiating with lenders for loans to build a 317-room hotel at 133 Greenwich Street..."

[NYguy]

The hotels are booming.