BD Hotels has officially opened Pod Times Square, Pod Hotels new flagship location in Times Square at the intersection of 42nd Street and Ninth Avenue (January 2018). The hotel features 665 micro-hotel rooms in addition to 45 Pod Pads, which are rental apartments available for short and long term leasing.
Caspi Development, Mactaggart Family & Partners, and Barone Management have finally broken ground on the long delayed 456 Greenwich Street hotel development in TriBeCa. The hotel will rise 8-stories, 110', and was designed by Stephen B. Jacobs with interiors by Martin Brudnizki.
Construction has officially topped out on the TWA Hotel At JFK International Airport, one year after groundbreaking on December 15, 2016. The hotel breathes new life into the adjacent iconic, 1962 Eero Saarinen-designed TWA Flight Center, which will become the hotel's lobby and will feature an museum/ exhibition space open to the public.
There has been an uber-shake-up at Trump Soho, the famous hotel-condo that opened in 2007 as the Trump Group and owner CIM Group have parted ways. The 46-story, 391-unit property was first developed by a partnership between Bayrock Group and Sapir Organization, who entered into a licensing deal with The Trump Group to brand and manage the property.
Drama is beginning to heat up at the Waldorf Astoria, which Anbang purchased in 2015 for $1.95 billion. Anbang had planned to convert the legendary hotel from 1,413 hotel rooms to both 840 hotel rooms with 409 condominiums overseen by Skidmore, Owings, & Merrill (SOM) with construction led by Aecom Tishman.
Highgate, led by Mahmood Khimji, is buying the Gansevoort Park Avenue NYC in NoMaD a deal worth nearly $200 million. The deal equates to around $800,000 per key for the upscale hotel located at 420 Park Avenue South
Could another shake-up becoming to the New York hospitality industry? Earlier this summer rumors began to surface that Standard International, the hospitality firm founded by hotelier Andre Balazs, which originally bought out The Standard, High Line from other investors in 2014 for $400 million, is in late-stage talks to unload the asset.
Barry Sternlicht’s Starwood Capital Group is investing $250M to acquire a 30% steak in YOTEL, a chain of affordable "pod" style hotels in New York City, Boston, Paris Charles de Gaulle Airport, London Heathrow, London Gatwick, Amsterdam Schiphol; with San Francisco and Singapore opening this year (2017).