One of our favorite New York architects will soon be making their mark in Williamsburg. HWKN has just revealed new renderings for a brand new 14-story YOTEL coming to Brooklyn at 646 Lorimer Street. The images, which give us a taste of the exterior, are right on the mark with the YOTEL style and the rapidly changing neighborhood—and the design is what exactly you’d expect from HWKN: an eye-catching form with lots of greenspace.
Image of a B&B Mike Miley via photopin cc
We’ve already taken a close look at how controversial room-sharing startup Airbnb is accused of depleting the already-scarce affordable housing stock in the city, but a new type of fallout is also underway. Thanks to legislation enforced in 2011 that sought to eliminate short-term rentals and illegal hotels in residential or SRO buildings, many legal bed and breakfast owners are being forced to shut their doors.
A 22-story limited-service hotel is gearing up to rise in Midtown at 4-6 West 37th Street. According to new building permits filed this past weekend, a 120-key 60,000 square-foot development will go up at the 4,200 square-foot lot situated between Fifth and Sixth Avenues.
Two charming six-story buildings, erected in 1920, will be be demolished for the 210-foot tall project designed by notable hotel designer Nobutaka Ashihara Architects. The firm recently opened the city’s tallest hotel, the Marriott Residence Inn New York Manhattan/Central Park at 1717 Broadway.
In a town overrun with fancy hotels, the Algonquin–which turns 112 tomorrow–has true staying power, proving that history and heritage are every bit as important as plush bedding and sweet-smelling bath products.
Designed by Goldwin Starrett in a Renaissance limestone and red brick façade, the 12-story Algonquin Hotel, at 42 West 42nd Street, opened on November 22, 1902, initially operating as an apartment hotel with year-long leases but switching to a hotel after the owner failed to find enough renters. Today, the Algonquin–both a literary landmark and a New York City Historic Landmark–remains one of New York’s most cherished institutions, drawing a mix of artists, tourists and cultural elites.
Photo courtesy of Airbnb via Facebook.
Controversial room-sharing startup Airbnb, one of the most visible players in what is being called the “sharing economy,” has recently awakened the innovation vs. regulation argument in all the usual ways–and a few new ones, including the accusation that these short-term rentals are depleting the already-scarce affordable housing stock in pricey metro areas like San Francisco and New York City.
Get ready for another blockbuster sale. Following in the footsteps of Hilton who just sold off the Waldorf Astoria Hotel to Chinese Insurance Company Anbang for $1.95 billion, Aby Rosen and Michael Fuchs have put their prized Gramercy Park Hotel on the market. Crain‘s reports that the 186-room, 18-story hotel located at 2 Lexington Avenue could sell for an impressive $260 million.
The hotel was renovated back in 2006 for $200 million and then encountered several bumps during the recession which led its owners to default on a mortgage loan—and the eventual restructuring of debt after buying then-partner Ian Schrager’s share in the property. Now, Rosen and Fuchs are banking on the strength of the Manhattan hotel market, which has historically seen a discount when it comes to Downtown properties. If the hotel is to sell at more than its valued $260 million, on a per-room basis, it will garner a trading price greater than higher than the $1.4 million per suite seen in the Waldorf deal.
According to Crain’s, the owners are also considering other options like refinancing of the hotel or selling off just a percentage of ownership. Eastdil Secured is marketing the building to potential investors.
It’s where the Waldorf salad was invented; it was the first hotel to offer room service; and it has its own railway platform to Grand Central, large enough to fit FDR’s car. The historic tidbits about the Waldorf Astoria are plenty, but now the world-famous hotel is making big changes to its future.
Hilton Worldwide Holdings, who has officially owned the Art Deco landmark since 1972, has agreed to sell the 1,232-room hotel to the Anbang Insurance Group Co., a financial and insurance company based in Beijing, for $1.95 billion. Hilton, the world’s largest publicly traded hotel operator, will continue to manage the property under a “strategic partnership.”
Last month, pricing and exterior renderings were released for the much-anticipated Beekman Hotel and Condo conversion project. The long-shuttered historic structure (originally known as the Temple Court Building) will be topped off with a 51-story condominium tower adjacent to the 1883-built landmark and its famous atrium. It will contain 68 residential units designed by Thomas Juul-Hansen. The building’s lower levels will house 287 hotel rooms.
Now, Curbed has received the first reveal of the interior renderings, and they do not disappoint. From the modern apartments with Woolworth Building views to the luxe amenity areas, the rooms at 5 Beekman Street exude luxury and prestige. One of the most impressive interior shots is of the atrium, which extends through all nine stories of the original Terra Cotta structure and is topped off by a large, pyramidal skylight. It will be a lounge by Tom Colicchio known as the Living Room, the centerpiece of the hotel and a fine dining spot for residents and guests alike.
Williamsburg’s upcoming Level Hotel is right on track for its 2016 opening as construction continues moves full speed ahead at 55 Wythe Avenue. Back in July, architects Yohay Albo and Nick Liberis of Albo Liberis LLC were revealed as the brains behind the building’s ultra modern form, and it’s just been announced that Gunn Landscape Architecture will be taking charge of the expansive rooftop escape that will sit atop the retail pod of the futuristic hotel.
Back in June, we took a look at the winning designs for Prodigy Network’s 17John ‘Cotel’ (collaborative + hotel = cotel), the city’s first crowdsourced hotel and the world’s first collaborative hotel. Now, the real estate crowdfunding startup has closed on the 15-story rental building at 17 John Street for $85.3 million, $25 million of which came from crowdfunded equity. Additional financing came from Deutsche Bank and another institutional investor. The property will be transformed into a 23-story, 191-unit extended-stay hotel, designed for the next generation of business traveler.