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.
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