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PRODUCT NEWS
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| Funding secured for USD930m New York tower that will house a new Four Seasons hotel |
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| 16 May 2013 . BY Aoife Dowling |
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Real estate company Silverstein Properties has secured financing to construct an 82-storey tower in Manhattan, New York, US that will include a Four Seasons hotel and private residences.
At 926ft (282m) the property will be one of the tallest residential towers in Downtown Manhattan offering visitors panoramic views of the Midtown skyline and New York Harbor.
Located at Park Place and Church Street in Tribeca, Four Seasons Hotel and Private Residences New York, Downtown will feature a 185-room Four Seasons-operated luxury hotel as well as 157 Four Seasons branded private residences.
The hotel entrance on Barclay Street will lead visitors into three floors of lobbies, lounges, a restaurant, ballrooms, and meeting facilities, as well as a spa, fitness centre and pool.
Construction is expected to begin on the tower in Q3 of this year with the official opening set for 2016.
SLCE Architects and Robert A.M. Stern Architects will be responsible for the tower design while the hotel interiors will be designed by Yabu Pushelberg.
Financing for the US$930m (€720m, £609m) project was provided by the Children’s Investment Fund Management (UK), CalSTRS and Silverstein Properties.
Larry A. Silverstein, CEO of Silverstein Properties, said: “The tower will join and enhance a world-class neighbourhood that is already home to a dynamic blend of modern office towers, private residences, high-end retail and dazzling public spaces.
“Downtown is fast becoming a vibrant, integrated, mixed-use destination on a scale not seen in New York City since Rockefeller Centre in 1939.”
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