It’s definitely been a big number game at Chetrit‘s Sony Building conversion–from the 96 luxury condos they’ll add to floors 14 to 33 of the 37-story tower, to the planned $1.8 billion sellout, to the $150 million triplex penthouse, which, if sold, would be both the city’s priciest unit in history (if not eclipsed by the $175 million unit at 220 Central Park South) as well as the largest at 21,504 square feet. And now the Post reports that Chetrit is going to up the ante at 550 Madison Avenue by turning part of the commercial space on the lower floors into a luxury Parisian hotel.
The Chetrit Group purchased the Philip Johnson-designed Sony Tower in 2013 for $1.1 billion at auction, and it’s long been suspected that the overhaul would include some sort of hotel. The Post cites sources who say the developer is in talks with Germany’s Oetker Collection about launching an American outpost of The Bristol, their five-star flagship location in Paris. This French hotel is “a five-star 1925 grand dame of the city’s social and culinary worlds.” It includes a restaurant with three Michelin stars, as well as “an indoor rooftop pool resembling a dream yacht cabin.”
Oetker also owns hotels in Germany, the Caribbean, Morocco, and London, but a location in the Sony Building would be their first in the U.S. Both the hotel company and Chetrit deny a deal at this time.
- Five Luxury Towers Will Account for One-Third of New Development Sales over the Next Five Years
- Record $150M Sony Building Penthouse Will Also Be the City’s Biggest
- Chetrit Group Plans $1.8B Sellout for 96 Condos in the Sony Tower
Tags : 550 Madison Avenue, Chetrit Group, Sony Tower
Neighborhoods : Midtown East