NEW YORK CITY- One of America’s most well-known fashion designers will be bringing a little Uptown prep to Midtown South. According to data from Real Capital Analytics, Tommy Hilfiger signed a $170-million contract to buy the 41-story Metlife Clock Tower building at 5 Madison Ave., overlooking Madison Square Park. The Wall Street Journal reported on Friday that the designer reportedly wants to convert the building from office use to a luxury hotel.

According to RCA, SL Green Realty Corp. acquired the structure for redevelopment for $150 million in 2005, and then sold it to Africa Israel USA for $200 million in 2007. Africa Israel, the current seller, originally planned about 50 luxury condos at the site, the WSJ notes.

Previously, Hilfiger teamed up with JSR Capital and put in a $110-million bid for eight floors at the former New York Times building on 43^rd Street to create a hotel, according to the WSJ. But GlobeSt.com reported in April that private-equity giant the Blackstone Group purchased the office condominium there for $160 million. Sources familiar with the matter said the Hilfiger team changed their minds and looked into buying the famed Hotel Chelsea instead, but did not make an offer, the WSJ said.