Setai Fifth Avenue changes landscape of Midtown

The Wall Street Journal and Luxury Travel Advisor have reported that the Setai Fifth Avenue, which recently opened in the heart of midtown between 36th and 37th Streets, might be the harbinger of a transformation of its neighborhood from one filled with fast-food eateries and souvenir shops to one where fine dining and high-end retail stores are the norm.

The 60-story building contains the recently opened 214-unit luxury hotel (which includes 57 apartment suites), 184 condominium units, a state-of-the-art fitness center, several spas and salons, a restaurant, and a bar. Executives from Italy's Bizzi & Partners, the company that developed the Setai Fifth Avenue, are optimistic that the hotel and condominium will act as a magnet for higher-end retail and good restaurants, just as the Trump International Hotel & Tower spurred a positive transformation of the area around its Columbus Circle location beginning in the late 1990s.

Karmin, Craig. New Luxury Tower Tries to Lift Neighborhood. Wall Street Journal. October 14, 2010.

Tandy, Katy. The Setai Fifth Avenue Opens its Gilded Gates in NYC. Luxury Travel Advisor. November 8, 2010.