NEW YORK CITY-A story by the New York Post confirms that Starwood Capital founder Barry Sternlicht is working on a $400 million hotel/condo here called Baccarat. A permit for the projected 45-story tower is now on the 20 W. 53rd St. site, the story says.
According to the story, Sternlicht has been trying to get the hotel brand going for years. Properties were planned in Hawaii, Atlanta and Anguilla until the market crash, said the NY Post.
The city Department of Environmental Protection has put up a permit on the site labeled “Baccarat,” according to the story. Also, the Buildings Department has given approvals for the property, which is expected to feature 120 hotel rooms and 33 floors of condos. The NY Post story can be found here.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
