Andaz Wall Street, which is being developed by the Hakimian Organization along with its partners, Peykar Brothers Realty and Gorjian Properties, will be a hotel-condo, according to Hyatt. The 253-key hotel portion will take up the lower 18 floors of the property, while the upper 24 floors of the 42-story tower will contain 350 condo units.

The Rockwell Group is designing the interiors and public spaces, which include a solarium and lounge, fitness center and grand lobby with a three-story atrium. The Barclay Bank building at 75 Wall was developed in 1986 and at one time served as the Downtown headquarters of JPMorgan Chase.

An affiliate of Hyatt bought 485 Fifth from Belfonti Capital Partners and the Carlyle Group for $136 million in 2006. Belfonti had begun converting the former office property for residential use; it will now offer 144 keys designed by Tony Chi, including fractional ownership units on the top floors. According to published reports, the time shares will be rented out as hotel rooms if they don't sell.