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Plan for new hotel across from Museum of Modern Art is revived

NYHTC - June 7, 2011 Share/Save/Bookmark

After months of uncertainty, it again appears a hotel possibly paired with condominiums€œ will go up on the site of the Donnell Library across from the Museum of Modern Art on West 53rd Street.

Orient Express Hotels Ltd. contracted with the library in 2007 for the right to develop a hotel on the property, and has been fulfilling the terms of its property purchase agreement during the intervening years. Starwood Capital Group Global has partnered with Tribeca Associates, a real estate investment and development firm and has reportedly reached an agreement with Orient to purchase its rights to develop the hotel.

A number of distinguished union hotels are in close proximity to the 260,000 square foot site, including the Peninsula, St. Regis, Four Seasons, Plaza, Sherry Netherlands, and the Pierre.

Agovino, Theresa. Orient Express confirms sale of Pooh home. Crain's New York. March 23, 2011.

Agovino, Theresa. Midtown library site to sprout new $400M hotel. Crain's New York. March 16, 2011.

Related Issues: new development